Summa Corp. Has $455,000 Position in Costco Wholesale Corporation (NASDAQ:COST)

Summa Corp. lessened its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 9.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 481 shares of the retailer’s stock after selling 50 shares during the quarter. Summa Corp.’s holdings in Costco Wholesale were worth $455,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cromwell Holdings LLC grew its holdings in Costco Wholesale by 0.9% during the fourth quarter. Cromwell Holdings LLC now owns 1,144 shares of the retailer’s stock worth $1,048,000 after purchasing an additional 10 shares during the period. 44 Wealth Management LLC lifted its position in shares of Costco Wholesale by 0.3% in the fourth quarter. 44 Wealth Management LLC now owns 3,488 shares of the retailer’s stock valued at $3,196,000 after buying an additional 10 shares during the last quarter. SRN Advisors LLC boosted its stake in shares of Costco Wholesale by 0.3% during the 4th quarter. SRN Advisors LLC now owns 3,081 shares of the retailer’s stock worth $2,823,000 after acquiring an additional 10 shares during the period. Miramar Capital LLC increased its holdings in shares of Costco Wholesale by 1.9% during the 4th quarter. Miramar Capital LLC now owns 525 shares of the retailer’s stock worth $481,000 after acquiring an additional 10 shares during the last quarter. Finally, Clear Investment Research LLC raised its stake in Costco Wholesale by 22.2% in the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock valued at $51,000 after acquiring an additional 10 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Claudine Adamo sold 900 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $922.56, for a total value of $830,304.00. Following the sale, the executive vice president now directly owns 6,987 shares in the company, valued at $6,445,926.72. This represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the transaction, the executive vice president now owns 58,543 shares of the company’s stock, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,000 shares of company stock valued at $10,825,205. Insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST opened at $974.90 on Thursday. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The stock has a market cap of $432.35 billion, a PE ratio of 55.30, a PEG ratio of 5.77 and a beta of 1.00. Costco Wholesale Corporation has a 12-month low of $793.00 and a 12-month high of $1,078.24. The business has a 50-day simple moving average of $1,002.39 and a two-hundred day simple moving average of $981.12.

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

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a $1.30 dividend. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. This represents a $5.20 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, May 2nd. Costco Wholesale’s dividend payout ratio is 29.50%.

Analyst Upgrades and Downgrades

COST has been the topic of several research analyst reports. Telsey Advisory Group reissued an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research report on Tuesday, June 3rd. Truist Financial increased their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a report on Friday, May 30th. Evercore ISI reduced their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a report on Tuesday. Cfra Research raised Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research report on Friday, April 4th. Finally, JPMorgan Chase & Co. lifted their price target on Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,034.79.

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.