Costco Wholesale (NASDAQ:COST) Trading Up 0.5% – Should You Buy?

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on COST. TD Cowen raised their price objective on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $1,075.00 price objective (up previously from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Truist Financial lifted their target price on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research note on Friday, December 13th. 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. Finally, Stifel Nicolaus boosted their target price on shares of Costco Wholesale from $1,000.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and an average price target of $1,021.93.

Costco Wholesale Stock Performance

The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock has a market cap of $453.54 billion, a P/E ratio of 59.99, a PEG ratio of 6.15 and a beta of 0.84. The business 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 business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a dividend of $1.16 per share. 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 is currently 27.25%.

Institutional Investors Weigh In On Costco Wholesale

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COST. AMF Tjanstepension AB bought a new stake in shares of Costco Wholesale in the third quarter valued at about $42,896,000. Swedbank AB boosted its stake in shares of Costco Wholesale by 1.5% during the third 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 in the last quarter. Traynor Capital Management Inc. increased its holdings in Costco Wholesale by 17.0% during the third quarter. Traynor Capital Management Inc. now owns 2,772 shares of the retailer’s stock valued at $2,458,000 after buying an additional 402 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Costco Wholesale by 41.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,460 shares of the retailer’s stock valued at $10,160,000 after acquiring an additional 3,376 shares in the last quarter. Finally, Wells Trecaso Financial Group LLC raised its position in shares of Costco Wholesale by 6.0% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 369 shares of the retailer’s stock worth $327,000 after acquiring an additional 21 shares in the last quarter. 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.