Costco Wholesale (NASDAQ:COST) Shares Down 1.8% – Here’s What Happened

Costco Wholesale Co. (NASDAQ:COST) shares were down 1.8% during trading on Tuesday . The stock traded as low as $1,054.33 and last traded at $1,052.13. Approximately 655,760 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 1,876,586 shares. The stock had previously closed at $1,071.85.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Jefferies Financial Group raised their target price on Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Truist Financial increased 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. Morgan Stanley upped their price objective on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Citigroup upped their price target on Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,021.93.

Costco Wholesale Price Performance

The company has a fifty day simple moving average of $971.17 and a two-hundred day simple moving average of $925.64. The stock has a market capitalization of $468.77 billion, a price-to-earnings ratio of 62.01, a PEG ratio of 6.26 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.44%. Costco Wholesale’s dividend payout ratio is 27.25%.

Hedge Funds Weigh In On Costco Wholesale

Hedge funds and other institutional investors have recently made changes to their positions in the company. Investment Management Corp VA ADV bought a new position in Costco Wholesale in the fourth quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC bought a new position in shares of Costco Wholesale in the 3rd quarter valued at $29,000. Synergy Investment Management LLC acquired a new position in shares of Costco Wholesale during the 4th quarter worth $31,000. NewSquare Capital LLC lifted its position in shares of Costco Wholesale by 250.0% during the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after buying an additional 25 shares during the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new stake in Costco Wholesale in the fourth quarter valued at about $33,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

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.