Summit Global Investments Sells 1,328 Shares of Costco Wholesale Co. (NASDAQ:COST)

Summit Global Investments lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 18.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,914 shares of the retailer's stock after selling 1,328 shares during the period. Summit Global Investments' holdings in Costco Wholesale were worth $5,594,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new position in Costco Wholesale during the 4th quarter valued at approximately $25,000. Synergy Investment Management LLC acquired a new position in shares of Costco Wholesale during the fourth quarter valued at $31,000. NewSquare Capital LLC grew 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 worth $32,000 after acquiring an additional 25 shares during the last quarter. Collier Financial acquired a new stake in shares of Costco Wholesale in the 4th quarter worth about $35,000. Finally, Barrett & Company Inc. lifted its position in Costco Wholesale by 59.3% in the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer's stock valued at $39,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Up 4.0%

Shares of Costco Wholesale stock traded up $40.04 during midday trading on Friday, reaching $1,048.78. 5,400,884 shares of the company's stock traded hands, compared to its average volume of 2,061,175. The company has a market cap of $465.33 billion, a price-to-earnings ratio of 61.58, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00. The company's 50 day simple moving average is $983.85 and its 200 day simple moving average is $975.34. Costco Wholesale Co. has a 52 week low of $788.20 and a 52 week high of $1,078.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. The firm had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The business's revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.78 EPS. Equities analysts expect that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a $1.30 dividend. The ex-dividend date was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.50%. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio (DPR) is currently 30.36%.

Analysts Set New Price Targets

Several research analysts have commented on COST shares. Loop Capital decreased their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research report on Thursday. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research report on Thursday. Sanford C. Bernstein reiterated an "outperform" rating on shares of Costco Wholesale in a research report on Friday, March 7th. Mizuho began coverage on Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,035.32.

Insider Activity at Costco Wholesale

In other news, EVP Claudine Adamo sold 900 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $922.56, for a total transaction of $830,304.00. Following the completion of the transaction, the executive vice president now directly owns 6,987 shares of the company's stock, valued at approximately $6,445,926.72. This trade represents a 11.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James C. Klauer sold 4,000 shares of the company's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the completion of the sale, the executive vice president now directly owns 43,994 shares in the company, valued at approximately $43,161,193.58. The trade was a 8.33% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,600 shares of company stock worth $9,140,195. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Company 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.