Costco Wholesale (NASDAQ:COST) Stock Price Down 0.7% – What’s Next?

Shares of Costco Wholesale Co. (NASDAQ:COST) fell 0.7% during mid-day trading on Thursday . The company traded as low as $1,029.50 and last traded at $1,040.39. 569,061 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 1,828,094 shares. The stock had previously closed at $1,047.75.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. DA Davidson lifted their price target on Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a report on Thursday, February 6th. TD Cowen boosted their price objective 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. Robert W. Baird raised their target price on Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Finally, Morgan Stanley boosted their price target on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,021.93.

Costco Wholesale Stock Performance

The business’s fifty day moving average price is $987.79 and its 200-day moving average price is $941.75. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The stock has a market capitalization of $454.94 billion, a PE ratio of 60.24, a P/E/G ratio of 6.15 and a beta of 0.84.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.45%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s payout ratio is 27.25%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. TFR Capital LLC. purchased a new position in Costco Wholesale during the fourth quarter worth about $4,690,000. Castle Rock Wealth Management LLC grew its holdings in shares of Costco Wholesale by 5.3% during the fourth quarter. Castle Rock Wealth Management LLC now owns 3,900 shares of the retailer’s stock worth $3,573,000 after purchasing an additional 196 shares in the last quarter. Dogwood Wealth Management LLC grew its holdings in shares of Costco Wholesale by 11.8% during the fourth quarter. Dogwood Wealth Management LLC now owns 2,134 shares of the retailer’s stock worth $1,955,000 after purchasing an additional 226 shares in the last quarter. Smith Shellnut Wilson LLC ADV increased its position in shares of Costco Wholesale by 3.3% in the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 1,271 shares of the retailer’s stock worth $1,165,000 after purchasing an additional 41 shares during the last quarter. Finally, GHE LLC raised its stake in Costco Wholesale by 2.5% in the fourth quarter. GHE LLC now owns 6,640 shares of the retailer’s stock valued at $6,084,000 after purchasing an additional 165 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.