Costco Wholesale (NASDAQ:COST) Stock Price Up 0.5% – Here’s What Happened

Costco Wholesale Co. (NASDAQ:COST) shares shot up 0.5% on Thursday . The stock traded as high as $1,042.53 and last traded at $1,037.30. 342,214 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 1,855,624 shares. The stock had previously closed at $1,031.97.

Wall Street Analysts Forecast Growth

COST has been the topic of a number of recent analyst reports. BMO Capital Markets upped their price target on Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. TD Cowen upped their target price on Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, December 13th. DA Davidson boosted their price target on Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a research note on Thursday, February 6th. Morgan Stanley increased 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. Finally, Truist Financial upped their price target 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. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.93.

Costco Wholesale Price Performance

The stock has a market capitalization of $453.54 billion, a price-to-earnings ratio of 59.99, a PEG ratio of 6.15 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 stock has a 50-day moving average price of $979.28 and a 200 day moving average price of $935.71.

Costco Wholesale Dividend Announcement

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

Institutional Investors Weigh In On Costco Wholesale

A number of institutional investors have recently added to or reduced their stakes in COST. Jefferies Financial Group Inc. boosted its stake in Costco Wholesale by 35.6% during the 4th quarter. Jefferies Financial Group Inc. now owns 7,871 shares of the retailer’s stock worth $7,212,000 after purchasing an additional 2,068 shares during the last quarter. ABLE Financial Group LLC lifted its stake in Costco Wholesale by 4.0% during the 4th quarter. ABLE Financial Group LLC now owns 4,144 shares of the retailer’s stock worth $3,797,000 after acquiring an additional 159 shares in the last quarter. Bernard Wealth Management Corp. purchased a new position in Costco Wholesale in the 4th quarter valued at approximately $1,462,000. XY Planning Network Inc. purchased a new stake in Costco Wholesale during the 4th quarter worth about $338,000. Finally, HWG Holdings LP lifted its stake in Costco Wholesale by 5.1% in the fourth quarter. HWG Holdings LP now owns 6,757 shares of the retailer’s stock worth $6,191,000 after acquiring an additional 328 shares during the last quarter. Institutional investors and hedge funds 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.