Costco Wholesale Corporation $COST Shares Purchased by Security National Bank

Key Points

• Security National Bank increased its stake in Costco Wholesale Corporation by 5.5% during Q2, now holding 6,418 shares valued at approximately $6.35 million.
• Costco declared a quarterly dividend of $1.30 per share, resulting in an annualized dividend of $5.20 and a yield of 0.5%.
• Various brokerages have adjusted their price targets for Costco, with JPMorgan raising it from $1,115 to $1,160, indicating continued analyst confidence in the stock.

Security National Bank lifted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,418 shares of the retailer's stock after acquiring an additional 333 shares during the quarter. Costco Wholesale accounts for about 1.1% of Security National Bank's portfolio, making the stock its 24th largest position. Security National Bank's holdings in Costco Wholesale were worth $6,353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Investment Management Corp VA ADV purchased a new stake in Costco Wholesale during the 4th quarter worth about $25,000. Bulwark Capital Corp acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth about $25,000. Anderson Financial Strategies LLC raised its position in shares of Costco Wholesale by 900.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after acquiring an additional 36 shares in the last quarter. eCIO Inc. acquired a new stake in shares of Costco Wholesale during the 1st quarter worth about $48,000. Finally, Aspect Partners LLC raised its position in shares of Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after acquiring an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Performance

Shares of COST traded down $7.90 during mid-day trading on Monday, hitting $943.26. 2,781,931 shares of the company's stock were exchanged, compared to its average volume of 1,990,076. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23. The firm has a market capitalization of $418.32 billion, a P/E ratio of 53.50, a P/E/G ratio of 5.34 and a beta of 0.97. The business's 50 day moving average is $957.21 and its two-hundred day moving average is $971.17. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a dividend of $1.30 per share. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio is 29.50%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on COST shares. Loop Capital cut their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Wolfe Research started coverage on Costco Wholesale in a research report on Thursday. They set a "peer perform" rating on the stock. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research report on Thursday, May 29th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Wednesday, August 27th. Finally, Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,056.67.

Insider Activity

In other news, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the sale, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa A. Jones sold 600 shares of the 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 sale, the executive vice president owned 2,362 shares of the company's stock, valued at $2,343,222.10. This trade represents a 20.26% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

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.