Summit Financial Strategies Inc. Sells 39 Shares of Costco Wholesale Co. (NASDAQ:COST)

Summit Financial Strategies Inc. lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 9.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 358 shares of the retailer’s stock after selling 39 shares during the quarter. Summit Financial Strategies Inc.’s holdings in Costco Wholesale were worth $317,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Costco Wholesale by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock valued at $29,916,118,000 after purchasing an additional 473,702 shares during the last quarter. Capital World Investors raised its position in shares of Costco Wholesale by 8.1% during the first quarter. Capital World Investors now owns 3,824,778 shares of the retailer’s stock worth $2,802,147,000 after acquiring an additional 285,533 shares during the last quarter. Legal & General Group Plc raised its position in shares of Costco Wholesale by 2.5% during the second quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock worth $3,102,941,000 after acquiring an additional 88,550 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Costco Wholesale by 28.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,538,078 shares of the retailer’s stock worth $1,307,363,000 after acquiring an additional 338,780 shares during the last quarter. Finally, Wulff Hansen & CO. raised its position in shares of Costco Wholesale by 99,208.6% during the second quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock worth $1,253,508,000 after acquiring an additional 1,473,248 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Insider Transactions at Costco Wholesale

In related news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the sale, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the sale, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the sale, the director now owns 11,775 shares in the company, valued at $10,320,787.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,224 shares of company stock valued at $9,974,973 over the last three months. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on COST. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price for the company in a research report on Thursday, August 8th. Barclays boosted their target price on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Loop Capital boosted their target price on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Morgan Stanley boosted their target price on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $880.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 10th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $886.74.

Costco Wholesale Stock Down 0.2 %

Shares of COST stock traded down $1.52 on Thursday, hitting $885.86. 340,688 shares of the stock were exchanged, compared to its average volume of 1,941,514. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $392.73 billion, a P/E ratio of 54.78, a price-to-earnings-growth ratio of 5.53 and a beta of 0.80. The business has a 50-day moving average of $887.65 and a 200 day moving average of $830.66. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.10. The company had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. Costco Wholesale’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.86 earnings per share. Equities analysts anticipate that Costco Wholesale Co. will post 17.73 EPS for the current year.

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.