Costco Wholesale (NASDAQ:COST) Shares Up 1.5% – Here’s Why

Shares of Costco Wholesale Co. (NASDAQ:COST) were up 1.5% during trading on Tuesday . The stock traded as high as $1,051.87 and last traded at $1,050.77. Approximately 519,708 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 1,862,117 shares. The stock had previously closed at $1,035.60.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Roth Mkm lifted their price objective on Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Telsey Advisory Group restated an “outperform” rating on shares of Costco Wholesale in a research report on Friday, February 14th. Raymond James increased their price objective on Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Finally, Loop Capital upped their target price on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,021.93.

Costco Wholesale Stock Up 1.5 %

The business’s fifty day simple moving average is $976.47 and its 200 day simple moving average is $933.62. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The stock has a market cap of $466.70 billion, a price-to-earnings ratio of 61.74, a price-to-earnings-growth ratio of 6.15 and a beta of 0.84.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s payout ratio is 27.25%.

Hedge Funds Weigh In On Costco Wholesale

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COST. AMF Tjanstepension AB bought a new stake in shares of Costco Wholesale in the 3rd quarter valued at $42,896,000. Swedbank AB lifted its holdings in shares of Costco Wholesale by 1.5% during the 3rd quarter. Swedbank AB now owns 443,747 shares of the retailer’s stock valued at $393,391,000 after purchasing an additional 6,495 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Costco Wholesale by 6.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 122,992 shares of the retailer’s stock valued at $109,034,000 after purchasing an additional 7,684 shares during the period. First Bank & Trust grew its position in shares of Costco Wholesale by 0.7% in the 3rd quarter. First Bank & Trust now owns 4,162 shares of the retailer’s stock valued at $3,690,000 after purchasing an additional 30 shares during the period. Finally, Covenant Partners LLC increased its stake in Costco Wholesale by 29.8% during the 3rd quarter. Covenant Partners LLC now owns 545 shares of the retailer’s stock worth $483,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

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.