Costco Wholesale (NASDAQ:COST) Shares Down 0.5% – Here’s What Happened

Costco Wholesale Co. (NASDAQ:COST) shares dropped 0.5% during trading on Wednesday . The company traded as low as $1,043.49 and last traded at $1,050.91. Approximately 394,694 shares changed hands during trading, a decline of 79% from the average daily volume of 1,865,498 shares. The stock had previously closed at $1,055.66.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on COST shares. Telsey Advisory Group reaffirmed an “outperform” rating on shares of Costco Wholesale in a research report on Friday, February 14th. UBS Group lifted their target price on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. 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. Truist Financial lifted their price objective on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a report on Friday, December 13th. Finally, Stifel Nicolaus increased their target price on Costco Wholesale from $1,000.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,021.93.

Costco Wholesale Stock Performance

The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average price of $977.94 and a 200 day moving average price of $935.03. The stock has a market cap of $460.36 billion, a P/E ratio of 60.93, a PEG ratio of 6.15 and a beta of 0.84.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.45%. Costco Wholesale’s dividend payout ratio (DPR) is 27.25%.

Hedge Funds Weigh In On Costco Wholesale

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

Costco Wholesale Company 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.