Meridian Wealth Advisors LLC Boosts Stake in Costco Wholesale Co. (NASDAQ:COST)

Meridian Wealth Advisors LLC lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,925 shares of the retailer’s stock after buying an additional 249 shares during the period. Costco Wholesale makes up approximately 1.7% of Meridian Wealth Advisors LLC’s portfolio, making the stock its 14th biggest holding. Meridian Wealth Advisors LLC’s holdings in Costco Wholesale were worth $9,286,000 at the end of the most recent quarter.

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

Costco Wholesale Stock Performance

Shares of COST stock traded down $6.38 during trading hours on Thursday, hitting $883.64. The stock had a trading volume of 142,636 shares, compared to its average volume of 1,948,318. Costco Wholesale Co. has a twelve month low of $540.18 and a twelve month high of $918.93. The firm 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. The stock’s 50 day moving average is $856.21 and its 200 day moving average is $798.00. 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 Dividend Announcement

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

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the sale, the director now owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares in the company, valued at $10,320,787.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total transaction of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares in the company, valued at $20,015,745. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

COST has been the subject of several analyst reports. Roth Mkm restated a “neutral” rating and issued a $676.00 target price (up previously from $650.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Wells Fargo & Company lifted their target price on shares of Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. BMO Capital Markets upped their target price on Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Truist Financial raised their target price on Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Robert W. Baird boosted their price objective on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus target price 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.