OLD National Bancorp IN Has $22.43 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

OLD National Bancorp IN lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,719 shares of the retailer's stock after selling 1,281 shares during the period. OLD National Bancorp IN's holdings in Costco Wholesale were worth $22,433,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Costco Wholesale by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 42,201,610 shares of the retailer's stock worth $38,668,069,000 after buying an additional 455,043 shares during the period. Geode Capital Management LLC raised its holdings in Costco Wholesale by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer's stock worth $8,901,249,000 after buying an additional 252,118 shares during the period. FMR LLC raised its holdings in Costco Wholesale by 1.6% during the 4th quarter. FMR LLC now owns 9,457,824 shares of the retailer's stock worth $8,665,921,000 after buying an additional 149,209 shares during the period. GAMMA Investing LLC raised its holdings in Costco Wholesale by 106,402.1% during the 1st quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock worth $7,717,744,000 after buying an additional 8,152,528 shares during the period. Finally, Norges Bank acquired a new stake in Costco Wholesale during the 4th quarter worth about $5,182,316,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Insiders Place Their Bets

In other news, EVP James C. Klauer sold 4,000 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total value of $3,924,280.00. Following the completion of the sale, the executive vice president now directly owns 43,994 shares of the company's stock, valued at approximately $43,161,193.58. This represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value of $3,351,600.00. Following the completion of the sale, the chief executive officer now directly owns 41,077 shares of the company's stock, valued at $38,242,687. This represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,600 shares of company stock valued at $9,140,195 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Up 0.4%

Shares of Costco Wholesale stock opened at $1,014.94 on Friday. The stock has a market capitalization of $450.31 billion, a P/E ratio of 59.60, a PEG ratio of 6.15 and a beta of 1.00. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average price of $993.68 and a two-hundred day moving average price of $979.66. Costco Wholesale Co. has a 12-month low of $793.00 and a 12-month high of $1,078.24.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) 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 analysts' expectations of $62.93 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The company's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.78 earnings per share. Equities analysts expect that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a dividend of $1.30 per share. The ex-dividend date was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a yield of 0.51%. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio is presently 29.50%.

Wall Street Analyst Weigh In

Several research firms have issued reports on COST. Cowen restated a "buy" rating on shares of Costco Wholesale in a report on Friday, March 7th. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a report on Tuesday. Sanford C. Bernstein reiterated an "outperform" rating on shares of Costco Wholesale in a report on Friday, March 7th. Loop Capital dropped their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Finally, Truist Financial upped their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,035.32.

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.

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