Meridian Wealth Advisors LLC Acquires 249 Shares of Costco Wholesale Co. (NASDAQ:COST)

Meridian Wealth Advisors LLC grew its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,925 shares of the retailer’s stock after buying an additional 249 shares during the quarter. Costco Wholesale makes up 1.7% of Meridian Wealth Advisors LLC’s portfolio, making the stock its 14th largest position. Meridian Wealth Advisors LLC’s holdings in Costco Wholesale were worth $9,286,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Costco Wholesale by 1.2% during the first quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock worth $29,916,118,000 after acquiring an additional 473,702 shares in the last quarter. Norges Bank acquired a new position in shares of Costco Wholesale during the 4th quarter worth about $3,628,694,000. Capital World Investors raised its holdings in shares of Costco Wholesale by 8.1% in the 1st quarter. Capital World Investors now owns 3,824,778 shares of the retailer’s stock valued at $2,802,147,000 after purchasing an additional 285,533 shares during the period. Fisher Asset Management LLC lifted its stake in Costco Wholesale by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,790,935 shares of the retailer’s stock valued at $1,842,241,000 after purchasing an additional 81,853 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in Costco Wholesale by 32.9% during the fourth quarter. TD Asset Management Inc now owns 1,278,824 shares of the retailer’s stock worth $844,126,000 after purchasing an additional 316,426 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Trading Down 0.7 %

Shares of COST traded down $6.38 during mid-day trading on Thursday, reaching $883.64. 142,636 shares of the company were exchanged, compared to its average volume of 1,948,318. The business has a 50 day simple moving average of $856.21 and a two-hundred day simple moving average of $798.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The stock has a market capitalization of $391.74 billion, a PE ratio of 55.14, a PEG ratio of 5.98 and a beta of 0.80. Costco Wholesale Co. has a 52 week low of $540.18 and a 52 week high of $918.93.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Insider Transactions at Costco Wholesale

In other news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the transaction, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a document filed 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 firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the sale, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the transaction, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The disclosure for this sale can be found here. Insiders sold a total of 4,974 shares of company stock worth $4,252,856 over the last three months. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays upped their price objective on Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Roth Mkm reaffirmed a “neutral” rating and set a $676.00 price target (up previously from $650.00) on shares of Costco Wholesale in a report on Friday, May 31st. TD Cowen lifted their price objective on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Loop Capital increased their price objective on shares of Costco Wholesale from $940.00 to $970.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company raised their target price on shares of Costco Wholesale from $775.00 to $800.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $824.50.

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.