Costco Wholesale (NASDAQ:COST) Shares Up 0.6% – What’s Next?

Costco Wholesale Co. (NASDAQ:COST) shares rose 0.6% during trading on Thursday . The stock traded as high as $1,072.18 and last traded at $1,071.91. Approximately 396,051 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,892,739 shares. The stock had previously closed at $1,065.12.

Analysts Set New Price Targets

COST has been the subject of several analyst reports. UBS Group raised their price objective on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Citigroup raised their target price on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Sanford C. Bernstein initiated coverage on Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 target price for the company. Evercore ISI raised their price objective on shares of Costco Wholesale from $1,040.00 to $1,070.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Truist Financial lifted their price objective on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research note on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.93.

Costco Wholesale Stock Performance

The company has a market cap of $475.79 billion, a PE ratio of 62.94, a P/E/G ratio of 6.26 and a beta of 0.84. 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 business has a fifty day moving average of $969.49 and a 200-day moving average of $922.35.

Costco Wholesale Dividend Announcement

The business also recently declared 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. This represents a $4.64 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s dividend payout ratio is currently 27.25%.

Hedge Funds Weigh In On Costco Wholesale

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AMF Tjanstepension AB purchased a new stake in shares of Costco Wholesale in the 3rd quarter worth approximately $42,896,000. Wedge Capital Management L L P NC purchased a new stake in shares of Costco Wholesale in the third quarter worth $213,000. Creative Planning grew its stake in shares of Costco Wholesale by 5.5% in the third quarter. Creative Planning now owns 224,169 shares of the retailer’s stock worth $194,245,000 after acquiring an additional 11,678 shares during the last quarter. Swedbank AB grew its position in 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 during the last quarter. Finally, Riversedge Advisors LLC grew its holdings in shares of Costco Wholesale by 1.4% during the third quarter. Riversedge Advisors LLC now owns 870 shares of the retailer’s stock valued at $771,000 after buying an additional 12 shares during the last quarter. 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.