Summit Financial Consulting LLC Makes New $385,000 Investment in Costco Wholesale Corporation (NASDAQ:COST)

Summit Financial Consulting LLC purchased a new stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 407 shares of the retailer's stock, valued at approximately $385,000. Costco Wholesale makes up about 0.4% of Summit Financial Consulting LLC's portfolio, making the stock its 27th biggest position.

Other hedge funds have also made changes to their positions in the company. May Barnhard Investments LLC purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $485,000. Brighton Jones LLC raised its holdings in shares of Costco Wholesale by 12.3% during the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after acquiring an additional 2,172 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Costco Wholesale by 13.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock worth $1,029,000 after acquiring an additional 130 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Costco Wholesale by 45.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock worth $107,436,000 after purchasing an additional 36,384 shares in the last quarter. Finally, Highview Capital Management LLC DE raised its stake in shares of Costco Wholesale by 0.8% during the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock worth $4,410,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Analysts Set New Price Targets

COST has been the subject of a number of recent research reports. Truist Financial raised their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Loop Capital cut their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Barclays raised their price target on shares of Costco Wholesale from $940.00 to $980.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Morgan Stanley raised their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Finally, Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,034.79.

Insider Transactions at Costco Wholesale

In other news, EVP James C. Klauer sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the sale, the executive vice president directly owned 43,994 shares in the company, valued at approximately $43,161,193.58. The trade was a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the sale, the executive vice president owned 58,543 shares in the company, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,547 shares of company stock valued at $9,496,950. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Stock Performance

COST stock traded up $5.16 on Monday, reaching $992.18. 1,831,328 shares of the company were exchanged, compared to its average volume of 2,073,144. Costco Wholesale Corporation has a 12 month low of $793.00 and a 12 month high of $1,078.24. The stock's fifty day moving average price is $1,005.20 and its 200 day moving average price is $981.38. The firm has a market capitalization of $440.01 billion, a PE ratio of 56.28, a PEG ratio of 6.14 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter in the previous year, the firm posted $3.78 EPS. The business's revenue was up 8.0% compared to the same quarter last year. On average, research analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.52%. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. Costco Wholesale's payout ratio is currently 29.50%.

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.