Merit Financial Group LLC Grows Holdings in Costco Wholesale Co. (NASDAQ:COST)

Merit Financial Group LLC increased its stake in Costco Wholesale Co. (NASDAQ:COST) by 18.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,842 shares of the retailer’s stock after buying an additional 2,912 shares during the period. Merit Financial Group LLC’s holdings in Costco Wholesale were worth $17,264,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Costco Wholesale by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock worth $8,380,648,000 after buying an additional 162,191 shares during the last quarter. FMR LLC lifted its stake in Costco Wholesale by 3.6% during the third quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after purchasing an additional 324,973 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Costco Wholesale by 113,947.9% during the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after purchasing an additional 7,364,453 shares during the last quarter. Legal & General Group Plc boosted its holdings in Costco Wholesale by 2.5% in the second quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock worth $3,102,941,000 after purchasing an additional 88,550 shares during the period. Finally, Jennison Associates LLC increased its stake in Costco Wholesale by 3.8% during the third quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock valued at $3,013,394,000 after purchasing an additional 125,444 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a report on Friday, December 13th. UBS Group increased their price target on Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Sanford C. Bernstein began coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 price objective for the company. The Goldman Sachs Group increased their target price on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, BMO Capital Markets boosted their price target on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,013.59.

Costco Wholesale Price Performance

NASDAQ:COST opened at $943.19 on Friday. Costco Wholesale Co. has a 52-week low of $675.96 and a 52-week high of $1,008.25. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm has a market cap of $418.68 billion, a P/E ratio of 55.38, a PEG ratio of 5.60 and a beta of 0.84. The business’s 50-day moving average price is $949.82 and its 200 day moving average price is $901.17.

Insider Activity

In other news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction on Thursday, October 24th. The stock was 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 owns 27,400 shares in the company, valued at approximately $24,514,232. This represents a 4.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Costco Wholesale Profile

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.