Summit Investment Advisors Inc. Buys 791 Shares of Costco Wholesale Co. (NASDAQ:COST)

Summit Investment Advisors Inc. lifted its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.6% in the fourth quarter, according to the company in its most recent 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 comprises 18.7% of Summit Investment Advisors Inc.’s portfolio, making the stock its 20th biggest holding. Summit Investment Advisors Inc.’s holdings in Costco Wholesale were worth $21,050,000 as of its most recent filing with the SEC.

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

Costco Wholesale Trading Down 0.1 %

Shares of COST opened at $963.41 on Friday. The firm’s fifty day moving average is $982.89 and its two-hundred day moving average is $949.47. The stock has a market cap of $427.45 billion, a PE ratio of 56.57, a price-to-earnings-growth ratio of 6.15 and a beta of 0.95. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a 52-week low of $702.00 and a 52-week high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). The business had revenue of $63.72 billion during the quarter, compared to analyst estimates of $63.02 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. Research analysts forecast that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.09%.

Analyst Ratings Changes

Several research firms have recently weighed in on COST. Truist Financial lifted their target price on Costco Wholesale from $935.00 to $995.00 and gave the stock a “hold” rating in a research report on Friday, March 7th. Citigroup lifted their price target on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Telsey Advisory Group reissued an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Thursday. DA Davidson lifted their target price on Costco Wholesale from $900.00 to $1,000.00 and gave the company a “neutral” rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus dropped their price target on Costco Wholesale from $1,075.00 to $1,035.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Ten research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,024.03.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Gary Millerchip sold 1,100 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 11,165 shares of the company’s stock, valued at $10,495,211.65. This trade represents a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Roland Michael Vachris sold 3,600 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 41,077 shares in the company, valued at approximately $38,242,687. This trade represents a 8.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,600 shares of company stock worth $5,215,915 in the last quarter. Company 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.