Park National Corp OH Purchases 2,744 Shares of Costco Wholesale Corporation $COST

Key Points

• Park National Corp OH has increased its stake in Costco Wholesale Corporation by 8.9%, acquiring a total of 33,424 shares valued at approximately $33 million.
• Costco recently announced a quarterly dividend of $1.30 per share, representing an annualized dividend of $5.20 and a yield of 0.5%.
• Wall Street analysts have mixed opinions on Costco's stock, with a consensus rating of "Moderate Buy" and a price target averaging around $1,056.67.

Park National Corp OH lifted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 8.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,424 shares of the retailer's stock after purchasing an additional 2,744 shares during the period. Park National Corp OH's holdings in Costco Wholesale were worth $33,088,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Costco Wholesale by 106,402.1% during the 1st quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock valued at $7,717,744,000 after acquiring an additional 8,152,528 shares during the period. Nuveen LLC purchased a new position in Costco Wholesale in the first quarter valued at approximately $3,461,159,000. Vanguard Group Inc. grew its holdings in Costco Wholesale by 1.0% during the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock valued at $40,332,515,000 after purchasing an additional 443,101 shares during the period. National Bank of Canada FI increased its position in Costco Wholesale by 84.0% in the first quarter. National Bank of Canada FI now owns 812,188 shares of the retailer's stock worth $768,114,000 after buying an additional 370,806 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Costco Wholesale in the fourth quarter valued at $280,046,000. Institutional investors own 68.48% of the company's stock.

Insider Activity at Costco Wholesale

In related news, EVP Teresa A. Jones sold 600 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the transaction, the director owned 11,531 shares in the company, valued at $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,147 shares of company stock valued at $5,031,130. Company insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Truist Financial lifted their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Morgan Stanley raised their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,056.67.

Costco Wholesale Price Performance

NASDAQ:COST traded up $3.58 during mid-day trading on Friday, hitting $967.90. 1,460,154 shares of the stock traded hands, compared to its average volume of 1,941,441. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23. 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 company has a market cap of $429.24 billion, a PE ratio of 54.90, a price-to-earnings-growth ratio of 5.45 and a beta of 0.97. The business's 50-day moving average price is $960.40 and its 200 day moving average price is $974.31.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

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.