Costco Wholesale (NASDAQ:COST) Trading 1.7% Higher – Time to Buy?

Shares of Costco Wholesale Co. (NASDAQ:COST) shot up 1.7% during mid-day trading on Monday . The stock traded as high as $997.77 and last traded at $997.03. 754,185 shares changed hands during trading, a decline of 59% from the average session volume of 1,858,147 shares. The stock had previously closed at $979.88.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Evercore ISI increased their price objective on Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Raymond James raised their price target on Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. DA Davidson increased their price target on shares of Costco Wholesale from $880.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Truist Financial raised their target price on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. Finally, Robert W. Baird increased their price objective on Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $1,013.59.

Costco Wholesale Stock Performance

The business’s 50 day moving average is $956.42 and its two-hundred day moving average is $910.75. The company has a market cap of $462.93 billion, a PE ratio of 61.24, a PEG ratio of 5.84 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.

Costco Wholesale Announces Dividend

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. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a yield of 0.44%. Costco Wholesale’s dividend payout ratio is presently 27.25%.

Institutional Investors Weigh In On Costco Wholesale

Institutional investors have recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC purchased a new position in Costco Wholesale during the third quarter valued at $29,000. Endeavor Private Wealth Inc. purchased a new position in shares of Costco Wholesale during the fourth quarter valued at about $33,000. Collier Financial purchased a new stake in shares of Costco Wholesale in the fourth quarter worth about $35,000. Barrett & Company Inc. grew its holdings in Costco Wholesale by 59.3% during the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock valued at $39,000 after buying an additional 16 shares in the last quarter. Finally, FSC Wealth Advisors LLC bought a new stake in Costco Wholesale in the 4th quarter worth approximately $41,000. 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.