Security National Bank Buys 333 Shares of Costco Wholesale Corporation $COST

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 Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,418 shares of the retailer's stock after purchasing an additional 333 shares during the quarter. Costco Wholesale comprises about 1.1% of Security National Bank's holdings, making the stock its 24th largest holding. Security National Bank's holdings in Costco Wholesale were worth $6,353,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Personal CFO Solutions LLC increased its stake in Costco Wholesale by 12.4% during the first quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock worth $1,436,000 after acquiring an additional 167 shares during the last quarter. F&V Capital Management LLC acquired a new stake in Costco Wholesale during the first quarter worth $236,000. Graybill Wealth Management LTD. acquired a new stake in shares of Costco Wholesale in the first quarter valued at $3,095,000. Rossmore Private Capital grew its stake in shares of Costco Wholesale by 0.9% in the first quarter. Rossmore Private Capital now owns 6,687 shares of the retailer's stock valued at $6,325,000 after buying an additional 62 shares in the last quarter. Finally, Curat Global LLC acquired a new stake in shares of Costco Wholesale in the first quarter valued at $241,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Activity

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Costco Wholesale Price Performance

Shares of NASDAQ COST traded down $1.20 during mid-day trading on Friday, hitting $951.16. 4,601,598 shares of the stock were exchanged, compared to its average volume of 1,916,574. The company has a market cap of $421.82 billion, a P/E ratio of 53.95, a PEG ratio of 5.34 and a beta of 0.97. The stock's fifty day simple moving average is $957.97 and its two-hundred day simple moving average is $971.70. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23.

Costco Wholesale Dividend Announcement

The business 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 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's payout ratio is currently 29.50%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COST. JPMorgan Chase & Co. lifted their target price on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Morgan Stanley boosted their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Truist Financial boosted their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Finally, Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research note on Thursday, May 29th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Costco Wholesale has a consensus rating of "Moderate Buy" and a consensus target price of $1,056.67.

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.