Park National Corp OH Purchases 749 Shares of Costco Wholesale Co. (NASDAQ:COST) (2024)

Park National Corp OH increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,118 shares of the retailer's stock after buying an additional 749 shares during the quarter. Park National Corp OH's holdings in Costco Wholesale were worth $28,150,000 at the end of the most recent reporting period.

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Several other hedge funds and other institutional investors have also modified their holdings of COST. Frank Rimerman Advisors LLC acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Costco Wholesale in the 1st quarter worth $32,000. Wetzel Investment Advisors Inc. bought a new position in shares of Costco Wholesale in the 4th quarter worth $30,000. Vima LLC bought a new position in shares of Costco Wholesale in the 4th quarter worth $34,000. Finally, DSM Capital Partners LLC bought a new position in shares of Costco Wholesale in the 4th quarter worth $36,000. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock traded up $8.64 on Monday, hitting $863.57. The stock had a trading volume of 1,747,604 shares, compared to its average volume of 1,998,390. Costco Wholesale Co. has a twelve month low of $530.56 and a twelve month high of $896.67. The business's 50 day moving average is $844.97 and its two-hundred day moving average is $776.95. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The stock has a market cap of $382.85 billion, a price-to-earnings ratio of 53.50, a price-to-earnings-growth ratio of 5.49 and a beta of 0.78.

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Why This Retail Stock Is on Track to Hit a Multiyear High

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.08. The business had revenue of $58.52 billion during the quarter, compared to analysts' expectations of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.43 earnings per share. Analysts forecast that Costco Wholesale Co. will post 15.97 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale's payout ratio is presently 28.75%.

Insiders Place Their Bets

Does BJ's Wholesale Club Stock Have More Room to Grow?

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the company's stock in a transaction on Monday, July 15th. The stock was sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the completion of the sale, the insider now directly owns 10,992 shares in the company, valued at $9,327,041.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kenneth D. Denman sold 350 shares of the company's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the transaction, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel M. Hines sold 1,500 shares of the company's stock in a transaction on Monday, July 15th. The stock was sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the transaction, the insider now owns 10,992 shares of the company's stock, valued at $9,327,041.76. The disclosure for this sale can be found here. Insiders sold 3,350 shares of company stock worth $2,837,131 over the last three months. Insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on COST shares. Argus lifted their target price on Costco Wholesale from $805.00 to $900.00 and gave the stock a "buy" rating in a report on Tuesday, May 28th. Loop Capital lifted their target price on Costco Wholesale from $940.00 to $970.00 and gave the stock a "buy" rating in a report on Thursday, July 11th. TD Cowen lifted their target price on Costco Wholesale from $850.00 to $925.00 and gave the stock a "buy" rating in a report on Friday, July 12th. Bank of America lifted their target price on Costco Wholesale from $874.00 to $962.00 and gave the stock a "buy" rating in a report on Thursday, July 11th. Finally, Barclays lifted their target price on Costco Wholesale from $765.00 to $830.00 and gave the stock an "equal weight" rating in a report on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $824.50.

Check Out Our Latest Report on COST

About Costco Wholesale

(Free Report)

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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