SummitTX Capital L.P. Sells 21,320 Shares of Costco Wholesale Corporation $COST

SummitTX Capital L.P. lowered its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 67.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,395 shares of the retailer’s stock after selling 21,320 shares during the period. SummitTX Capital L.P.’s holdings in Costco Wholesale were worth $10,358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in COST. Vanguard Group Inc. grew its stake in Costco Wholesale by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 43,620,717 shares of the retailer’s stock valued at $37,615,889,000 after acquiring an additional 165,349 shares during the period. Geode Capital Management LLC grew its position in Costco Wholesale by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 10,388,519 shares of the retailer’s stock valued at $8,919,573,000 after purchasing an additional 26,690 shares during the period. Morgan Stanley grew its position in Costco Wholesale by 1.1% in the 4th quarter. Morgan Stanley now owns 9,523,423 shares of the retailer’s stock valued at $8,212,433,000 after purchasing an additional 107,775 shares during the period. Diamant Asset Management Inc. increased its stake in Costco Wholesale by 99,278.0% during the 1st quarter. Diamant Asset Management Inc. now owns 6,726,899 shares of the retailer’s stock valued at $672,690,000 after purchasing an additional 6,720,130 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in Costco Wholesale by 838.9% during the 4th quarter. Corient Private Wealth LLC now owns 6,125,405 shares of the retailer’s stock valued at $5,282,182,000 after purchasing an additional 5,472,968 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other Costco Wholesale news, Director Kenneth D. Denman sold 885 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total value of $847,343.25. Following the completion of the transaction, the director owned 4,779 shares in the company, valued at $4,575,653.55. This represents a 15.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Key Stories Impacting Costco Wholesale

Here are the key news stories impacting Costco Wholesale this week:

• Positive Sentiment: Record demand for Costco Gas is driving more store visits, which can support merchandise sales and membership renewals by increasing overall customer traffic. Costco Gas Demand Hits Record as Low Prices Drive Member Visits
• Positive Sentiment: Costco was highlighted as a stock that can hold up if inflation stays elevated, with its membership model and scale seen as a defensive advantage for investors. 2 Stocks Built to Thrive If Inflation Refuses to Fade (COST)
• Positive Sentiment: Analysts continue to view Costco favorably overall, with the company reported to have a “Moderate Buy” consensus recommendation. Costco Wholesale Corporation (NASDAQ:COST) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Neutral Sentiment: Some shoppers may be eligible for cash from Costco’s $14 million settlement in Washington, which is a consumer-relations issue but does not appear large enough to materially change the investment case. Some Costco shoppers could qualify for cash in settlement payout
• Neutral Sentiment: Short interest data showed 0 shares reported, offering no meaningful new signal on trading pressure or sentiment.

Costco Wholesale Stock Performance

Shares of COST stock opened at $935.03 on Monday. Costco Wholesale Corporation has a 52-week low of $844.06 and a 52-week high of $1,096.50. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.61 and a current ratio of 1.07. The company has a 50-day simple moving average of $965.91 and a two-hundred day simple moving average of $980.66. The company has a market capitalization of $414.67 billion, a price-to-earnings ratio of 47.03, a PEG ratio of 4.52 and a beta of 0.88.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 28th. The retailer reported $4.93 EPS for the quarter, missing the consensus estimate of $4.94 by ($0.01). The firm had revenue of $70.53 billion for the quarter, compared to the consensus estimate of $70.12 billion. Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.During the same period in the prior year, the business earned $4.28 EPS. Research analysts anticipate that Costco Wholesale Corporation will post 20.42 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a $1.47 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $5.88 annualized dividend and a yield of 0.6%. Costco Wholesale’s payout ratio is currently 29.58%.

Wall Street Analyst Weigh In

Several research firms have recently commented on COST. DA Davidson reissued a “neutral” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research report on Thursday, June 4th. JPMorgan Chase & Co. cut their price target on Costco Wholesale from $1,110.00 to $1,100.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Bank of America boosted their price objective on Costco Wholesale from $1,185.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Oppenheimer increased their price objective on Costco Wholesale from $1,100.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Finally, TD Cowen restated a “buy” rating and issued a $1,175.00 target price on shares of Costco Wholesale in a report on Wednesday, June 3rd. Twenty-two equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus target price of $1,059.07.

Costco Wholesale Company Profile

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company’s product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco’s business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.