Merit Financial Group LLC Has $17.26 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

Merit Financial Group LLC increased its position in Costco Wholesale Co. (NASDAQ:COST) by 18.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 18,842 shares of the retailer’s stock after purchasing 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 and hedge funds have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Costco Wholesale during the third quarter valued at $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Costco Wholesale during the 3rd quarter valued at about $58,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Costco Wholesale in the 4th quarter valued at about $58,000. Christopher J. Hasenberg Inc lifted its position in shares of Costco Wholesale by 329.4% in the third quarter. Christopher J. Hasenberg Inc now owns 73 shares of the retailer’s stock worth $65,000 after purchasing an additional 56 shares in the last quarter. Finally, VitalStone Financial LLC acquired a new stake in shares of Costco Wholesale during the third quarter worth approximately $71,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

Costco Wholesale Trading Up 2.5 %

Shares of COST stock opened at $943.19 on Friday. 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 Co. has a 1 year low of $675.96 and a 1 year high of $1,008.25. The firm’s fifty day simple moving average is $949.82 and its 200 day simple moving average is $901.17. The firm has a market capitalization of $418.68 billion, a P/E ratio of 55.38, a price-to-earnings-growth ratio of 5.60 and a beta of 0.84.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on COST shares. Citigroup increased their target price on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Barclays lifted their price objective on Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. BMO Capital Markets upped their target price on Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. The Goldman Sachs Group boosted their price target on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Melius Research assumed coverage on shares of Costco Wholesale in a research report on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and an average price target of $1,013.59.

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.