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

Summit Place Financial Advisors LLC raised its position in Costco Wholesale Corporation (NASDAQ:COST) by 7.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,575 shares of the retailer’s stock after buying an additional 188 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Costco Wholesale were worth $2,550,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Costco Wholesale by 12.3% in the fourth 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 in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Costco Wholesale by 13.1% in the fourth 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 in the last quarter. GAMMA Investing LLC grew its position in shares of Costco Wholesale by 12.6% in the first 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 in the last quarter. Marshall Financial Group LLC grew its position in shares of Costco Wholesale by 7.4% in the first quarter. Marshall Financial Group LLC now owns 289 shares of the retailer’s stock valued at $274,000 after purchasing an additional 20 shares in the last quarter. Finally, West Branch Capital LLC grew its position in shares of Costco Wholesale by 14.4% in the first 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 in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Costco Wholesale Price Performance

Costco Wholesale stock opened at $930.01 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 business has a 50-day simple moving average of $952.05 and a 200 day simple moving average of $971.77. Costco Wholesale Corporation has a 52 week low of $867.34 and a 52 week high of $1,078.23. The stock has a market cap of $412.16 billion, a price-to-earnings ratio of 51.07, a PEG ratio of 5.64 and a beta of 0.98.

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

Costco Wholesale Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on COST shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, September 24th. Jefferies Financial Group reiterated a “buy” rating on shares of Costco Wholesale in a research report on Thursday. Mizuho reduced their price target on Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating for the company in a research report on Thursday. Daiwa Capital Markets reduced their price target on Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating for the company in a research report on Tuesday, September 30th. Finally, Roth Capital set a $907.00 target price on Costco Wholesale and gave the stock a “neutral” rating in a research report on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and an average price target 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.