Wesbanco Bank Inc. Increases Position in Costco Wholesale Corporation $COST

Key Points

• Wesbanco Bank Inc. increased its stake in Costco Wholesale Corporation by 17.5%, owning a total of 13,492 shares worth approximately $13.4 million as of the second quarter.
• Recent insider selling includes EVP Yoram Rubanenko, who sold 4,000 shares for nearly $3.9 million, indicating a 40.92% decrease in his position.
• Seventeen investment analysts rate Costco as a Buy, with a consensus price target of $1,056.67, showing strong bullish sentiment for the stock.

Wesbanco Bank Inc. boosted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 17.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,492 shares of the retailer's stock after purchasing an additional 2,012 shares during the period. Wesbanco Bank Inc.'s holdings in Costco Wholesale were worth $13,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new position in Costco Wholesale during the fourth quarter valued at $25,000. Anderson Financial Strategies LLC lifted its position in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after purchasing an additional 36 shares during the period. eCIO Inc. acquired a new position in Costco Wholesale during the first quarter valued at $48,000. Aspect Partners LLC lifted its position in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares during the period. Finally, Capital A Wealth Management LLC acquired a new position in Costco Wholesale during the fourth quarter valued at $58,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Costco Wholesale

In related news, EVP Yoram Rubanenko sold 4,000 shares of the company's 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 of the company's stock, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,147 shares of company stock valued at $5,031,130. Corporate insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COST. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research report on Thursday, May 29th. JPMorgan Chase & Co. upped their price objective on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Morgan Stanley upped 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 research report on Friday, May 30th. Evercore ISI decreased their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research report on Tuesday, June 17th. Finally, Truist Financial upped their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,056.67.

Costco Wholesale Stock Up 0.4%

COST stock opened at $967.90 on Friday. The stock has a market capitalization of $429.24 billion, a P/E ratio of 54.90, a P/E/G ratio of 5.43 and a beta of 0.97. The firm has a 50-day simple moving average of $960.40 and a 200-day simple moving average of $974.64. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $1.30 per share. 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 dividend payout ratio is currently 29.50%.

Costco Wholesale 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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