Costco Wholesale (NASDAQ:COST) Stock Price Up 1.7% – Should You Buy?

Shares of Costco Wholesale Co. (NASDAQ:COST) rose 1.7% on Friday . The stock traded as high as $936.94 and last traded at $935.40. Approximately 793,068 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 1,722,926 shares. The stock had previously closed at $919.75.

Wall Street Analysts Forecast Growth

COST has been the topic of several recent analyst reports. Truist Financial lifted their price objective on shares of Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research report on Friday, December 13th. Loop Capital boosted their price target on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. DA Davidson raised their price objective on Costco Wholesale from $880.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. TD Cowen boosted their target price on Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Wells Fargo & Company raised their price target on Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and nineteen 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 target price of $1,013.59.

Costco Wholesale Stock Up 2.1 %

The company’s 50 day moving average is $949.72 and its 200 day moving average is $900.36. The company has a market cap of $416.70 billion, a PE ratio of 55.10, a P/E/G ratio of 5.60 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.

Insider Transactions at Costco Wholesale

In other news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This represents a 4.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

A number of hedge funds have recently added to or reduced their stakes in COST. RPg Family Wealth Advisory LLC purchased a new stake in shares of Costco Wholesale in the 3rd quarter worth approximately $29,000. Retirement Wealth Solutions LLC bought a new stake in Costco Wholesale during the 4th quarter valued at $55,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Costco Wholesale in the 3rd quarter valued at $58,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Costco Wholesale in the 4th quarter worth $58,000. Finally, Christopher J. Hasenberg Inc lifted its stake in shares of Costco Wholesale by 329.4% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 73 shares of the retailer’s stock worth $65,000 after purchasing an additional 56 shares during the last quarter. 68.48% of the stock is 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.