Summit Trail Advisors LLC Acquires 66 Shares of Costco Wholesale Co. (NASDAQ:COST)

Summit Trail Advisors LLC grew its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,365 shares of the retailer’s stock after acquiring an additional 66 shares during the period. Summit Trail Advisors LLC’s holdings in Costco Wholesale were worth $5,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Strong Tower Advisory Services raised its stake in shares of Costco Wholesale by 7.9% in the first quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock worth $1,346,000 after buying an additional 137 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in Costco Wholesale by 52.1% during the second quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock valued at $6,499,000 after purchasing an additional 2,620 shares in the last quarter. Main Street Financial Solutions LLC increased its stake in shares of Costco Wholesale by 22.8% in the second quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock worth $3,003,000 after purchasing an additional 656 shares in the last quarter. Parcion Private Wealth LLC raised its position in shares of Costco Wholesale by 30.8% during the 2nd quarter. Parcion Private Wealth LLC now owns 5,596 shares of the retailer’s stock valued at $4,757,000 after purchasing an additional 1,319 shares during the period. Finally, Aspiriant LLC lifted its stake in shares of Costco Wholesale by 6.1% during the 1st quarter. Aspiriant LLC now owns 2,327 shares of the retailer’s stock valued at $1,705,000 after buying an additional 134 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $906.98 on Friday. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $923.83. The company’s 50-day moving average is $864.85 and its 200 day moving average is $810.90. The firm has a market capitalization of $402.10 billion, a P/E ratio of 56.19, a price-to-earnings-growth ratio of 5.51 and a beta of 0.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Insider Activity

In related news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the sale, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on COST shares. TD Cowen boosted their price objective on Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a research report on Friday, July 12th. BMO Capital Markets boosted their price target on Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective for the company in a report on Thursday, August 8th. Redburn Atlantic downgraded shares of Costco Wholesale from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $860.00 to $890.00 in a report on Tuesday, September 10th. Finally, Wells Fargo & Company raised their target price on shares of Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus target price of $844.52.

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.