Merit Financial Group LLC Boosts Position in Costco Wholesale Co. (NASDAQ:COST)

Merit Financial Group LLC raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 14.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,592 shares of the retailer's stock after buying an additional 2,750 shares during the quarter. Merit Financial Group LLC's holdings in Costco Wholesale were worth $20,421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of COST. Cromwell Holdings LLC grew its holdings in shares of Costco Wholesale by 0.9% during the fourth quarter. Cromwell Holdings LLC now owns 1,144 shares of the retailer's stock worth $1,048,000 after purchasing an additional 10 shares during the last quarter. 44 Wealth Management LLC increased its position in shares of Costco Wholesale by 0.3% during the fourth quarter. 44 Wealth Management LLC now owns 3,488 shares of the retailer's stock worth $3,196,000 after acquiring an additional 10 shares in the last quarter. SRN Advisors LLC lifted its position in shares of Costco Wholesale by 0.3% during the 4th quarter. SRN Advisors LLC now owns 3,081 shares of the retailer's stock worth $2,823,000 after buying an additional 10 shares in the last quarter. Miramar Capital LLC increased its position in shares of Costco Wholesale by 1.9% during the fourth quarter. Miramar Capital LLC now owns 525 shares of the retailer's stock valued at $481,000 after acquiring an additional 10 shares during the last quarter. Finally, Clear Investment Research LLC raised its stake in shares of Costco Wholesale by 22.2% during the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock worth $51,000 after purchasing an additional 10 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Shares of COST stock traded down $40.88 during trading hours on Thursday, hitting $1,010.81. 2,949,889 shares of the company's stock were exchanged, compared to its average volume of 2,055,803. Costco Wholesale Co. has a 12-month low of $793.00 and a 12-month high of $1,078.24. The company has a market capitalization of $448.48 billion, a PE ratio of 59.35, a PEG ratio of 6.15 and a beta of 1.00. The business's 50 day simple moving average is $991.17 and its 200-day simple moving average is $978.09. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The company had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. During the same quarter last year, the company earned $3.78 EPS. The firm's revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Friday, May 2nd. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's payout ratio is 30.36%.

Analyst Ratings Changes

A number of equities research analysts recently commented on COST shares. Loop Capital lowered their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Morgan Stanley upped their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Evercore ISI lifted their price objective on Costco Wholesale from $1,070.00 to $1,075.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. Mizuho started coverage on shares of Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 price objective on the stock. Finally, Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research report on Thursday, May 29th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Costco Wholesale has a consensus rating of "Moderate Buy" and an average target price of $1,035.32.

Insider Activity at Costco Wholesale

In other news, CEO Roland Michael Vachris sold 3,600 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value of $3,351,600.00. Following the transaction, the chief executive officer now owns 41,077 shares in the company, valued at approximately $38,242,687. This trade represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gary Millerchip sold 1,100 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the sale, the executive vice president now owns 11,165 shares of the company's stock, valued at $10,495,211.65. This represents a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,600 shares of company stock worth $9,140,195 in the last ninety days. 0.18% of the stock is owned by company insiders.

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.