Summit Place Financial Advisors LLC Buys 188 Shares of Costco Wholesale Corporation $COST

Summit Place Financial Advisors LLC increased its stake in Costco Wholesale Corporation (NASDAQ:COST) by 7.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,575 shares of the retailer’s stock after acquiring an additional 188 shares during the period. Summit Place Financial Advisors LLC’s holdings in Costco Wholesale were worth $2,550,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in Costco Wholesale by 12.3% during the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock valued at $18,165,000 after purchasing an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock valued at $1,029,000 after purchasing an additional 130 shares during the last quarter. GAMMA Investing LLC raised its position in Costco Wholesale by 12.6% during the 1st quarter. GAMMA Investing LLC now owns 8,628 shares of the retailer’s stock valued at $8,160,000 after purchasing an additional 966 shares during the last quarter. Marshall Financial Group LLC raised its position in Costco Wholesale by 7.4% during the 1st quarter. Marshall Financial Group LLC now owns 289 shares of the retailer’s stock valued at $274,000 after purchasing an additional 20 shares during the last quarter. Finally, West Branch Capital LLC raised its position in Costco Wholesale by 14.4% during the 1st quarter. West Branch Capital LLC now owns 3,432 shares of the retailer’s stock valued at $3,246,000 after purchasing an additional 433 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Down 1.4%

COST stock opened at $930.01 on Friday. Costco Wholesale Corporation has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23. The business’s 50 day moving average price is $952.05 and its two-hundred day moving average price is $971.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The company has a market capitalization of $412.16 billion, a price-to-earnings ratio of 51.07, a price-to-earnings-growth ratio of 5.64 and a beta of 0.98.

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

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio is presently 28.56%.

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. This represents a 40.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,981 shares of company stock worth $7,588,685 in the last 90 days. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Roth Capital set a $907.00 price target on Costco Wholesale and gave the company a “neutral” rating in a research report on Friday, September 26th. Truist Financial lowered their price target on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research report on Friday, September 26th. Evercore ISI lowered their price target on Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating for the company in a research report on Friday, September 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Costco Wholesale in a research report on Wednesday. Finally, Daiwa Capital Markets reduced their target price on Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,066.23.

About Costco Wholesale

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.