Costco Wholesale Co. (NASDAQ:COST) Shares Bought by Meridian Wealth Management LLC

22 Nov 2024, 17:42 by Michael Walen · The Markets Daily

Meridian Wealth Management LLC grew its stake in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 11.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,889 shares of the retailer’s stock after buying an additional 1,879 shares during the quarter. Costco Wholesale accounts for about 0.8% of Meridian Wealth Management LLC’s portfolio, making the stock its 18th largest holding. Meridian Wealth Management LLC’s holdings in Costco Wholesale were worth $16,746,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Financial Connections Group Inc. raised its holdings in Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the period. Bank & Trust Co purchased a new stake in Costco Wholesale in the 2nd quarter worth $48,000. Ruedi Wealth Management Inc. raised its position in Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares during the period. Summit Securities Group LLC purchased a new position in Costco Wholesale during the second quarter valued at $50,000. Finally, Fairway Wealth LLC increased its stake in shares of Costco Wholesale by 230.0% during the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the subject of several research analyst reports. Roth Mkm upped their price target on shares of Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Loop Capital raised their target price on Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Evercore ISI boosted their price target on Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. BMO Capital Markets increased their price objective on Costco Wholesale from $980.00 to $1,075.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Tigress Financial reiterated a “buy” rating and issued a $1,065.00 target price on shares of Costco Wholesale in a research report on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $908.81.

Check Out Our Latest Stock Report on Costco Wholesale

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the transaction, the executive vice president now owns 10,202 shares in the company, valued at $9,091,512.30. The trade was a 30.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the sale, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. This represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,016 shares of company stock valued at $9,826,115. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Up 3.3 %

Shares of NASDAQ:COST opened at $958.25 on Friday. Costco Wholesale Co. has a 1 year low of $582.83 and a 1 year high of $962.00. The firm’s 50-day moving average is $900.22 and its two-hundred day moving average is $863.38. The firm has a market capitalization of $424.57 billion, a PE ratio of 57.83, a price-to-earnings-growth ratio of 5.74 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST – Get Free Report) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.86 earnings per share. Analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, November 1st. Costco Wholesale’s payout ratio is presently 28.00%.

Costco Wholesale Company Profile

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