Costco Wholesale (NASDAQ:COST) Trading 1.1% Higher – What’s Next?

Costco Wholesale Co. (NASDAQ:COST)’s share price was up 1.1% on Tuesday . The stock traded as high as $956.55 and last traded at $953.45. Approximately 559,702 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,765,987 shares. The stock had previously closed at $943.19.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Evercore ISI lifted their price objective on Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. TD Cowen upped their price target on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Tigress Financial restated a “buy” rating and set a $1,065.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 17th. Oppenheimer reiterated an “outperform” rating and issued a $1,075.00 target price (up previously from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group raised their price target on shares of Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,013.59.

Costco Wholesale Trading Down 0.3 %

The company has a market capitalization of $418.22 billion, a P/E ratio of 55.32, a P/E/G ratio of 5.65 and a beta of 0.84. The stock has a 50 day moving average of $950.56 and a 200-day moving average of $903.04. The company has a current ratio of 0.98, a quick ratio of 0.43 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. Investors of record on Friday, February 7th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.49%. Costco Wholesale’s dividend payout ratio is currently 27.25%.

Hedge Funds Weigh In On Costco Wholesale

Large investors have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new stake in Costco Wholesale during the 3rd quarter valued at approximately $29,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $33,000. FSC Wealth Advisors LLC bought a new position in shares of Costco Wholesale during the 4th quarter valued at approximately $41,000. Retirement Wealth Solutions LLC purchased a new position in shares of Costco Wholesale in the fourth quarter valued at $55,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in Costco Wholesale in the fourth quarter worth $58,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

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.