Merriman Wealth Management LLC Has $1.65 Million Stake in Costco Wholesale Co. (COST)
Merriman Wealth Management LLC grew its stake in Costco Wholesale Co. (NASDAQ:COST) by 118.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,021 shares of the retailer’s stock after purchasing an additional 5,429 shares during the period. Merriman Wealth Management LLC’s holdings in Costco Wholesale were worth $1,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of COST. Vanguard Group Inc. grew its position in Costco Wholesale by 2.9% in the second quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock worth $5,380,168,000 after acquiring an additional 937,121 shares during the period. BlackRock Inc. grew its position in Costco Wholesale by 2.9% in the second quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock worth $3,983,097,000 after acquiring an additional 703,825 shares during the period. Capital World Investors grew its position in Costco Wholesale by 6.0% in the second quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock worth $2,843,102,000 after acquiring an additional 1,007,720 shares during the period. FMR LLC grew its position in Costco Wholesale by 1.5% in the first quarter. FMR LLC now owns 12,099,104 shares of the retailer’s stock worth $2,028,898,000 after acquiring an additional 177,200 shares during the period. Finally, Capital Research Global Investors grew its position in Costco Wholesale by 2.3% in the second quarter. Capital Research Global Investors now owns 9,281,245 shares of the retailer’s stock worth $1,484,350,000 after acquiring an additional 207,675 shares during the period. Institutional investors and hedge funds own 71.49% of the company’s stock.
Several research analysts recently weighed in on COST shares. Moffett Nathanson started coverage on Costco Wholesale in a research report on Monday, December 4th. They issued a “buy” rating for the company. < Vetr upgraded Costco Wholesale from a “buy” rating to a “strong-buy” rating and set a $182.22 price objective for the company in a research report on Monday, August 21st. Oppenheimer reiterated a “buy” rating on shares of Costco Wholesale in a research report on Thursday, August 24th. Morgan Stanley lowered Costco Wholesale from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $190.00 to $165.00 in a research report on Friday, October 6th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $200.00 price objective on shares of Costco Wholesale in a research report on Monday, September 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $179.50.
Costco Wholesale Co. (NASDAQ COST) opened at $188.28 on Thursday. Costco Wholesale Co. has a 52-week low of $150.00 and a 52-week high of $191.22. The company has a market capitalization of $82,280.00, a price-to-earnings ratio of 32.45, a PEG ratio of 3.06 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.43 and a current ratio of 0.99.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, topping the consensus estimate of $2.02 by $0.06. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The business had revenue of $42.30 billion during the quarter, compared to analyst estimates of $41.55 billion. During the same period last year, the business posted $1.77 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. equities research analysts predict that Costco Wholesale Co. will post 6.48 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, November 16th. Costco Wholesale’s payout ratio is currently 32.95%.
In other news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $164.92, for a total value of $164,920.00. Following the sale, the director now directly owns 6,974 shares in the company, valued at $1,150,152.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Dennis R. Zook sold 5,000 shares of the stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $161.92, for a total value of $809,600.00. Following the completion of the sale, the vice president now owns 626 shares in the company, valued at $101,361.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,842 shares of company stock worth $5,520,848. Insiders own 0.74% of the company’s stock.
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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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