Costco Wholesale (NASDAQ:COST) Trading 0.3% Higher – Here’s Why

Costco Wholesale Co. (NASDAQ:COST)’s stock price traded up 0.3% during mid-day trading on Monday . The company traded as high as $943.50 and last traded at $942.33. 717,178 shares changed hands during trading, a decline of 60% from the average session volume of 1,779,074 shares. The stock had previously closed at $939.68.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on COST. Evercore ISI increased their price target on Costco Wholesale from $1,019.00 to $1,020.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Tigress Financial restated a “buy” rating and issued a $1,065.00 price target on shares of Costco Wholesale in a research report on Thursday, October 17th. DA Davidson raised their target price on shares of Costco Wholesale from $880.00 to $900.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Raymond James increased their price target on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Finally, Truist Financial upped their target price on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,013.59.

Costco Wholesale Stock Up 0.6 %

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The company has a 50 day moving average of $953.06 and a 200-day moving average of $905.62. The company has a market capitalization of $427.93 billion, a P/E ratio of 56.61, a PEG ratio of 5.63 and a beta of 0.84.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.48%. Costco Wholesale’s dividend payout ratio is currently 27.25%.

Institutional Investors Weigh In On Costco Wholesale

Institutional investors have recently modified their holdings of the business. RPg Family Wealth Advisory LLC purchased a new position in shares of Costco Wholesale during the 3rd quarter worth $29,000. Endeavor Private Wealth Inc. bought a new stake in Costco Wholesale during the fourth quarter valued at about $33,000. Collier Financial purchased a new stake in Costco Wholesale in the fourth quarter worth about $35,000. Barrett & Company Inc. increased its position in Costco Wholesale by 59.3% in the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock worth $39,000 after buying an additional 16 shares in the last quarter. Finally, FSC Wealth Advisors LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth about $41,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

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.