Meridian Management Co. acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,875 shares of the retailer’s stock, valued at approximately $1,622,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cadinha & Co. LLC increased its stake in shares of Costco Wholesale by 7.3% during the second quarter. Cadinha & Co. LLC now owns 124,642 shares of the retailer’s stock worth $19,934,000 after purchasing an additional 8,518 shares in the last quarter. Stephens Inc. AR increased its stake in shares of Costco Wholesale by 3.1% during the first quarter. Stephens Inc. AR now owns 44,405 shares of the retailer’s stock worth $7,446,000 after purchasing an additional 1,350 shares in the last quarter. Intersect Capital LLC increased its stake in shares of Costco Wholesale by 143.4% during the second quarter. Intersect Capital LLC now owns 5,382 shares of the retailer’s stock worth $861,000 after purchasing an additional 3,171 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Costco Wholesale during the second quarter worth about $1,985,000. Finally, Birch Hill Investment Advisors LLC increased its stake in shares of Costco Wholesale by 10.6% during the first quarter. Birch Hill Investment Advisors LLC now owns 169,232 shares of the retailer’s stock worth $28,379,000 after purchasing an additional 16,155 shares in the last quarter. 70.87% of the stock is owned by institutional investors.
Costco Wholesale Co. (NASDAQ:COST) opened at $186.12 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The firm has a market cap of $81,726.41, a PE ratio of 29.59, a price-to-earnings-growth ratio of 3.13 and a beta of 0.98. Costco Wholesale Co. has a fifty-two week low of $150.00 and a fifty-two week high of $195.35.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were issued a $0.50 dividend. The ex-dividend date was Thursday, November 16th. This represents a $2.00 annualized dividend and a yield of 1.07%. Costco Wholesale’s payout ratio is 31.80%.
In other Costco Wholesale news, VP Timothy L. Rose sold 5,000 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $193.20, for a total value of $966,000.00. Following the transaction, the vice president now directly owns 52,529 shares in the company, valued at approximately $10,148,602.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard A. Galanti sold 3,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $170.95, for a total transaction of $512,850.00. Following the completion of the transaction, the chief financial officer now owns 35,225 shares in the company, valued at $6,021,713.75. The disclosure for this sale can be found here. Insiders sold a total of 57,842 shares of company stock worth $10,347,448 over the last quarter. 0.74% of the stock is currently owned by company insiders.
COST has been the subject of a number of research reports. Deutsche Bank reissued a “hold” rating and set a $172.00 target price on shares of Costco Wholesale in a research note on Tuesday, September 5th. Citigroup boosted their target price on shares of Costco Wholesale from $155.00 to $187.00 and gave the stock a “hold” rating in a research note on Friday, October 6th. Morgan Stanley lowered shares of Costco Wholesale from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $190.00 to $165.00 in a research report on Friday, October 6th. Zacks Investment Research lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Finally, Oppenheimer restated a “buy” rating on shares of Costco Wholesale in a research report on Friday, October 20th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $187.32.
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About Costco Wholesale
Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.
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