TruWealth Advisors LLC Reduces Stake in Costco Wholesale Co.

TruWealth Advisors LLC has reduced its holdings in Costco Wholesale Co. (NASDAQ:COST) by 11.7% in the fourth quarter, as indicated by its latest Form 13F filed with the Securities and Exchange Commission. Following the sale of 4,871 shares, the firm now owns 36,712 shares of Costco. This stock represents 2.0% of TruWealth Advisors LLC's total assets, making it the firm's 16th largest position. As of the end of the most recent reporting period, TruWealth Advisors LLC's investment in Costco was valued at approximately $33,639,000.

In addition, several other institutional investors have adjusted their positions in Costco recently. For example, Geode Capital Management LLC increased its stake in Costco by 1.7% in the third quarter and currently holds 9,487,057 shares worth $8,380,648,000, after acquiring an additional 162,191 shares. Similarly, FMR LLC raised its position by 3.6%, owning 9,308,615 shares valued at $8,252,274,000, subsequent to an investment of 324,973 shares.

International Assets Investment Management LLC made a dramatic increase in its holdings, boosting its stake by an impressive 113,947.9% to own 7,370,916 shares valued at $6,534,464,000 after adding 7,364,453 shares in the last quarter. Legal & General Group Plc also increased its position by 2.5%, now owning 3,650,562 shares worth $3,102,941,000 after purchasing an additional 88,550 shares in the previous quarter. Furthermore, Jennison Associates LLC raised its holdings by 3.8%, bringing its total to 3,399,127 shares valued at $3,013,394,000.

Currently, a significant portion of Costco's stock, about 68.48%, is held by institutional investors and hedge funds.

Analyst Ratings and Price Targets

Various analysts have provided insights regarding Costco's stock performance. Wells Fargo recently raised its price target for Costco Wholesale from $950.00 to $1,000.00, maintaining an 'equal weight' rating. Similarly, Morgan Stanley increased its price target from $950.00 to $1,150.00, giving the stock an 'overweight' rating. Melius Research initiated coverage of Costco, rating it as a 'hold' with a price objective of $950.00.

Loop Capital also raised its target for Costco Wholesale to $1,095.00 with a 'buy' rating. In addition, BMO Capital Markets increased its price target from $1,075.00 to $1,175.00, assigning an 'outperform' rating. In total, nine analysts have rated the stock as a 'hold', while nineteen analysts have categorized it as a 'buy'. Costco presently has an average rating of 'Moderate Buy' with an overall consensus price target of $1,013.59.

Insider Transactions

In related news, Richard A. Galanti, an executive vice president at Costco, sold 1,416 shares on October 24th for an average price of $894.68 for a total transaction of approximately $1,266,866.88. After this sale, Galanti's remaining stake in the company is 27,400 shares, valued around $24,514,232. This sale reflects a 4.91% decrease in his position, and the transaction has been shared in a legal filing with the SEC where further details can be accessed.

Costco Stock Overview

As of Friday, shares of COST opened at $943.19. The company stands out with a debt-to-equity ratio of 0.23, a quick ratio of 0.43, and a current ratio of 0.98. Costco Wholesale Co. holds a market capitalization of $418.68 billion, a price-to-earnings ratio of 55.38, a price-to-earnings-growth ratio of 5.60, and a beta of 0.84. The stock has experienced a 52-week low of $675.96 and a high of $1,008.25. Currently, the stock's 50-day and 200-day simple moving averages are $949.82 and $901.17, respectively.

Company Overview

Costco Wholesale Corporation operates membership warehouses across several countries, including the USA, Canada, Mexico, and Japan, among others. The company offers a wide range of merchandise categories through both branded and private-label products.

Costco, Investments, Stocks