Summit Global Investments Boosts Holdings in Costco Wholesale Co. (NASDAQ:COST)

Summit Global Investments boosted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 39.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,767 shares of the retailer’s stock after purchasing an additional 2,488 shares during the quarter. Summit Global Investments’ holdings in Costco Wholesale were worth $7,772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of COST. Fermata Advisors LLC raised its position in Costco Wholesale by 0.6% during the 3rd quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock valued at $1,745,000 after purchasing an additional 11 shares in the last quarter. Oak Asset Management LLC boosted its position in shares of Costco Wholesale by 0.3% in the 2nd quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after purchasing an additional 12 shares in the last quarter. Peddock Capital Advisors LLC grew its stake in Costco Wholesale by 0.7% during the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock worth $1,518,000 after buying an additional 12 shares during the last quarter. Perkins Coie Trust Co raised its stake in Costco Wholesale by 0.3% in the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock valued at $4,144,000 after buying an additional 12 shares during the last quarter. Finally, Firethorn Wealth Partners LLC increased its holdings in shares of Costco Wholesale by 3.5% during the third quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock valued at $318,000 after acquiring an additional 12 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $913.93 on Friday. The firm has a 50 day simple moving average of $891.92 and a 200-day simple moving average of $848.69. The stock has a market cap of $404.93 billion, a price-to-earnings ratio of 55.16, a price-to-earnings-growth ratio of 5.45 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. Costco Wholesale Co. has a 1-year low of $562.01 and a 1-year high of $923.83.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same period last year, the company earned $4.86 EPS. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

Analyst Upgrades and Downgrades

COST has been the topic of several research analyst reports. Robert W. Baird boosted their target price on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Evercore ISI upped their target price on Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. DA Davidson reaffirmed a “neutral” rating and set a $880.00 price target on shares of Costco Wholesale in a research report on Thursday, October 10th. Morgan Stanley boosted their price target on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, Barclays raised their price objective on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $905.30.

Insider Transactions at Costco Wholesale

In related news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the sale, the executive vice president now owns 27,400 shares in the company, valued at approximately $24,514,232. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total value of $431,940.00. Following the completion of the transaction, the executive vice president now owns 23,800 shares in the company, valued at $20,560,344. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the completion of the sale, the executive vice president now owns 27,400 shares in the company, valued at approximately $24,514,232. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,636 shares of company stock worth $11,238,510 over the last ninety days. Company insiders own 0.18% of the company’s stock.

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.