Costco Wholesale (NASDAQ:COST) Reaches New 1-Year High – What’s Next?

Costco Wholesale Co. (NASDAQ:COST) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $1,063.00 and last traded at $1,061.92, with a volume of 2034273 shares changing hands. The stock had previously closed at $1,043.81.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Sanford C. Bernstein initiated coverage on shares of Costco Wholesale in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 price objective for the company. Loop Capital upped their price objective on Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Stifel Nicolaus lifted their price objective on Costco Wholesale from $1,000.00 to $1,075.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. BMO Capital Markets raised their price target on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, TD Cowen boosted their price objective on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.93.

Costco Wholesale Trading Up 0.6 %

The business’s 50-day simple moving average is $964.53 and its two-hundred day simple moving average is $918.45. 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 company has a market capitalization of $472.81 billion, a PE ratio of 62.54, a PEG ratio of 6.26 and a beta of 0.84.

Costco Wholesale Dividend Announcement

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

Hedge Funds Weigh In On Costco Wholesale

Institutional investors have recently made changes to their positions in the business. AMF Tjanstepension AB acquired a new stake in shares of Costco Wholesale in the 3rd quarter valued at about $42,896,000. Wedge Capital Management L L P NC bought a new stake in Costco Wholesale in the third quarter valued at about $213,000. Creative Planning raised its stake in Costco Wholesale by 5.5% during the third quarter. Creative Planning now owns 224,169 shares of the retailer’s stock valued at $194,245,000 after buying an additional 11,678 shares in the last quarter. Swedbank AB lifted its holdings in Costco Wholesale by 1.5% during the 3rd quarter. Swedbank AB now owns 443,747 shares of the retailer’s stock worth $393,391,000 after buying an additional 6,495 shares during the last quarter. Finally, Magnus Financial Group LLC grew its position in shares of Costco Wholesale by 14.2% in the 3rd quarter. Magnus Financial Group LLC now owns 1,253 shares of the retailer’s stock worth $1,111,000 after acquiring an additional 156 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

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.