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

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on COST. Robert W. Baird upped their price target on Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Roth Mkm raised their target price on shares of Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Citigroup boosted their price target on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Truist Financial upped their price objective on shares of Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research note on Friday, December 13th. Finally, UBS Group increased 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. Nine analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.93.

Costco Wholesale Stock Performance

The company’s 50-day simple moving average is $971.17 and its 200-day simple moving average is $925.64. The stock has a market cap of $468.77 billion, a price-to-earnings ratio of 62.01, a price-to-earnings-growth ratio of 6.26 and a beta of 0.84. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

Costco Wholesale Dividend Announcement

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

Institutional Investors Weigh In On Costco Wholesale

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Costco Wholesale by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock worth $2,489,574,000 after purchasing an additional 32,074 shares in the last quarter. Hudson Value Partners LLC raised its holdings in shares of Costco Wholesale by 7.6% during the third quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after acquiring an additional 568 shares in the last quarter. Nwam LLC acquired a new stake in Costco Wholesale during the third quarter valued at $20,056,000. CHURCHILL MANAGEMENT Corp purchased a new position in Costco Wholesale in the fourth quarter valued at about $8,430,000. Finally, GAMMA Investing LLC increased its position in Costco Wholesale by 15.0% in the 4th quarter. GAMMA Investing LLC now owns 7,662 shares of the retailer’s stock worth $7,020,000 after purchasing an additional 1,001 shares during the last quarter. Hedge funds and other 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.