Summit Investment Advisors Inc. Buys 1,082 Shares of Costco Wholesale Corporation $COST

Summit Investment Advisors Inc. boosted its position in Costco Wholesale Corporation (NASDAQ:COST) by 4.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 24,056 shares of the retailer’s stock after acquiring an additional 1,082 shares during the quarter. Costco Wholesale comprises approximately 18.7% of Summit Investment Advisors Inc.’s portfolio, making the stock its 16th largest holding. Summit Investment Advisors Inc.’s holdings in Costco Wholesale were worth $22,752,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Peterson Wealth Services boosted its position in shares of Costco Wholesale by 0.5% during the second quarter. Peterson Wealth Services now owns 13,616 shares of the retailer’s stock valued at $13,479,000 after buying an additional 72 shares during the last quarter. Fishman Jay A Ltd. MI boosted its holdings in Costco Wholesale by 3.5% during the 2nd quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock worth $16,718,000 after acquiring an additional 575 shares during the last quarter. Independent Solutions Wealth Management LLC boosted its holdings in Costco Wholesale by 0.3% during the 2nd quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock worth $20,430,000 after acquiring an additional 53 shares during the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of Costco Wholesale in the 1st quarter worth $3,095,000. Finally, Rossmore Private Capital raised its holdings in shares of Costco Wholesale by 0.9% in the first quarter. Rossmore Private Capital now owns 6,687 shares of the retailer’s stock valued at $6,325,000 after purchasing an additional 62 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the transaction, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This trade represents a 25.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 7,920 shares of company stock worth $7,373,175. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

NASDAQ COST opened at $922.74 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The company has a market cap of $408.94 billion, a PE ratio of 50.67, a price-to-earnings-growth ratio of 5.54 and a beta of 0.98. Costco Wholesale Corporation has a 52 week low of $871.71 and a 52 week high of $1,078.23. The firm’s 50-day simple moving average is $938.12 and its two-hundred day simple moving average is $968.77.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating analysts’ consensus estimates of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The company had revenue of $86.16 billion for the quarter, compared to analysts’ expectations of $86.01 billion. During the same period in the prior year, the company posted $5.15 EPS. Costco Wholesale’s revenue was up 8.1% compared to the same quarter last year. Research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s dividend payout ratio is 28.56%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Evercore ISI cut their price target on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a report on Friday, September 26th. Argus boosted their target price on Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Oppenheimer decreased their price target on Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating for the company in a research report on Monday. Telsey Advisory Group reiterated an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a report on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective on Costco Wholesale from $1,050.00 to $1,025.00 and set an “overweight” rating on the stock in a research report on Thursday. Nineteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,063.88.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.