Mercer Global Advisors Inc. ADV Increases Position in Costco Wholesale Co. (NASDAQ:COST)

Mercer Global Advisors Inc. ADV lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 388,679 shares of the retailer’s stock after buying an additional 8,631 shares during the period. Costco Wholesale makes up approximately 0.8% of Mercer Global Advisors Inc. ADV’s portfolio, making the stock its 27th biggest holding. Mercer Global Advisors Inc. ADV owned 0.09% of Costco Wholesale worth $307,441,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Frank Rimerman Advisors LLC purchased a new position in shares of Costco Wholesale in the 4th quarter worth approximately $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Costco Wholesale in the 1st quarter worth approximately $32,000. Financial Connections Group Inc. boosted its stake in shares of 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 buying an additional 39 shares during the last quarter. Vima LLC purchased a new position in shares of Costco Wholesale in the 4th quarter worth approximately $34,000. Finally, DSM Capital Partners LLC purchased a new position in Costco Wholesale in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Down 1.2 %

Costco Wholesale stock opened at $897.27 on Wednesday. The stock has a market cap of $397.79 billion, a P/E ratio of 55.59, a PEG ratio of 5.56 and a beta of 0.80. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83. The firm’s fifty day moving average price is $862.32 and its 200-day moving average price is $808.65. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a $1.16 dividend. The ex-dividend date was Friday, July 26th. This represents a $4.64 annualized dividend and a yield of 0.52%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Insider Buying and Selling

In related news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the transaction, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the transaction, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the transaction, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,974 shares of company stock worth $4,252,856. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on COST shares. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a research note on Thursday, August 8th. Roth Mkm reiterated a “neutral” rating and issued a $676.00 price objective (up previously from $650.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Truist Financial upped their price objective on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Stifel Nicolaus upped their price objective on Costco Wholesale from $910.00 to $915.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Loop Capital upped their price objective on Costco Wholesale from $970.00 to $975.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $844.52.

About Costco Wholesale

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.