Meridian Wealth Partners LLC Acquires 35 Shares of Costco Wholesale Co. (NASDAQ:COST)

Meridian Wealth Partners LLC raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 8.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 432 shares of the retailer’s stock after purchasing an additional 35 shares during the period. Meridian Wealth Partners LLC’s holdings in Costco Wholesale were worth $367,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in COST. Frank Rimerman Advisors LLC bought a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Costco Wholesale during the first quarter valued at approximately $32,000. Vima LLC bought a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $34,000. DSM Capital Partners LLC bought a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. increased its position in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Down 1.2 %

Shares of Costco Wholesale stock opened at $897.27 on Wednesday. The company’s fifty day simple moving average is $862.32 and its 200-day simple moving average is $808.65. The stock has a market capitalization of $397.79 billion, a PE ratio of 55.59, a P/E/G ratio of 5.56 and a beta of 0.80. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $923.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on COST shares. Tigress Financial raised their price target on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Evercore ISI raised their price target on shares of Costco Wholesale from $915.00 to $925.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. DA Davidson reissued a “neutral” rating and set a $780.00 price target on shares of Costco Wholesale in a research report on Friday, September 6th. StockNews.com raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, Barclays lifted their target price on shares of Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus target price of $844.52.

Insider Activity at Costco Wholesale

In related news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,974 shares of company stock worth $4,252,856. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Company 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.