Summit Investment Advisors Inc. Has $22.75 Million Stock Holdings in Costco Wholesale Corporation $COST

Summit Investment Advisors Inc. grew its stake in Costco Wholesale Corporation (NASDAQ:COST) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,056 shares of the retailer’s stock after buying an additional 1,082 shares during the quarter. Costco Wholesale accounts for about 18.7% of Summit Investment Advisors Inc.’s investment portfolio, making the stock its 16th biggest holding. Summit Investment Advisors Inc.’s holdings in Costco Wholesale were worth $22,752,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Corps Capital Advisors LLC increased its position in shares of Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock worth $1,463,000 after purchasing an additional 10 shares during the period. Covestor Ltd lifted its position in Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock worth $119,000 after purchasing an additional 10 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its stake in Costco Wholesale by 0.4% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,071 shares of the retailer’s stock worth $2,905,000 after buying an additional 11 shares in the last quarter. SeaBridge Investment Advisors LLC increased its holdings in Costco Wholesale by 0.4% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 2,460 shares of the retailer’s stock valued at $2,327,000 after buying an additional 11 shares during the period. Finally, Redwood Park Advisors LLC raised its position in shares of Costco Wholesale by 6.8% in the 1st quarter. Redwood Park Advisors LLC now owns 173 shares of the retailer’s stock valued at $163,000 after buying an additional 11 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. DA Davidson reiterated a “neutral” rating and set a $1,000.00 price target on shares of Costco Wholesale in a research report on Friday, September 26th. JPMorgan Chase & Co. cut their target price on Costco Wholesale from $1,050.00 to $1,025.00 and set an “overweight” rating for the company in a research note on Thursday. Erste Group Bank lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Roth Capital set a $907.00 price objective on Costco Wholesale and gave the stock a “neutral” rating in a research report on Friday, September 26th. Finally, The Goldman Sachs Group lifted their target price on Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,063.88.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Claudine Adamo sold 2,700 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the completion of the sale, the executive vice president directly owned 6,851 shares in the company, valued at approximately $6,410,343.68. This trade represents a 28.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were 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 directly owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 7,920 shares of company stock valued at $7,373,175. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Price Performance

Shares of COST opened at $922.74 on Friday. The business has a 50-day moving average of $938.12 and a 200-day moving average of $968.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The company has a market capitalization of $408.94 billion, a price-to-earnings ratio of 50.67, a price-to-earnings-growth ratio of 5.54 and a beta of 0.98. Costco Wholesale Corporation has a 1 year low of $871.71 and a 1 year high of $1,078.23.

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

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given 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%.

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.