Summit Investment Advisors Inc. Boosts Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Summit Investment Advisors Inc. increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,974 shares of the retailer's stock after purchasing an additional 791 shares during the quarter. Costco Wholesale makes up approximately 18.7% of Summit Investment Advisors Inc.'s portfolio, making the stock its 20th largest position. Summit Investment Advisors Inc.'s holdings in Costco Wholesale were worth $21,050,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Synergy Investment Management LLC bought a new stake in Costco Wholesale during the fourth quarter worth approximately $31,000. NewSquare Capital LLC boosted its holdings in shares of Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock worth $32,000 after acquiring an additional 25 shares in the last quarter. Endeavor Private Wealth Inc. acquired a new stake in Costco Wholesale during the 4th quarter valued at $33,000. Collier Financial bought a new position in Costco Wholesale in the 4th quarter valued at $35,000. Finally, Barrett & Company Inc. raised its holdings in shares of Costco Wholesale by 59.3% in the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer's stock valued at $39,000 after buying an additional 16 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Stock Performance

Shares of COST stock traded up $12.64 during mid-day trading on Tuesday, reaching $991.96. The stock had a trading volume of 176,565 shares, compared to its average volume of 1,999,591. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a 1-year low of $702.00 and a 1-year high of $1,078.24. The firm has a market cap of $440.11 billion, a price-to-earnings ratio of 58.24, a PEG ratio of 6.15 and a beta of 0.95. The business's fifty day moving average is $981.61 and its 200-day moving average is $950.46.

Remove Ads

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing the consensus estimate of $4.09 by ($0.07). The business had revenue of $63.72 billion during the quarter, compared to analysts' expectations of $63.02 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. On average, research analysts forecast that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.47%. The ex-dividend date was Friday, February 7th. Costco Wholesale's dividend payout ratio is currently 27.09%.

Analysts Set New Price Targets

Several equities research analysts have commented on COST shares. JPMorgan Chase & Co. upped their target price on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Barclays upped their price target on Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. DA Davidson raised their target price on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the company a "neutral" rating in a research report on Thursday, February 6th. Loop Capital lowered their price target on shares of Costco Wholesale from $1,150.00 to $1,045.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Stifel Nicolaus reduced their price objective on shares of Costco Wholesale from $1,075.00 to $1,035.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Ten research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,024.03.

Insider Buying and Selling at Costco Wholesale

In other news, CEO Roland Michael Vachris sold 3,600 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value of $3,351,600.00. Following the sale, the chief executive officer now directly owns 41,077 shares of the company's stock, valued at approximately $38,242,687. The trade was a 8.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gary Millerchip sold 1,100 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the transaction, the executive vice president now directly owns 11,165 shares of the company's stock, valued at $10,495,211.65. The trade was a 8.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,600 shares of company stock worth $5,215,915. Corporate insiders own 0.18% of the company's stock.

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.