Costco Wholesale (NASDAQ:COST) Stock Price Up 2.5% – Here’s What Happened

Costco Wholesale Co. (NASDAQ:COST)’s share price rose 2.5% on Monday . The stock traded as high as $943.80 and last traded at $943.19. Approximately 2,367,034 shares changed hands during mid-day trading, an increase of 29% from the average daily volume of 1,832,091 shares. The stock had previously closed at $919.75.

Analysts Set New Price Targets

COST has been the subject of several research analyst reports. Tigress Financial restated a “buy” rating and issued a $1,065.00 price objective on shares of Costco Wholesale in a report on Thursday, October 17th. Truist Financial upped their target price on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a report on Friday, December 13th. DA Davidson upped their target price on Costco Wholesale from $880.00 to $900.00 and gave the company a “neutral” rating in a report on Friday, December 13th. The Goldman Sachs Group upped their target price on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Evercore ISI upped their target price on Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Nine research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,013.59.

Costco Wholesale Stock Performance

The stock has a fifty day moving average price of $950.03 and a 200 day moving average price of $902.31. The firm has a market cap of $420.70 billion, a price-to-earnings ratio of 55.65, a price-to-earnings-growth ratio of 5.63 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 Activity at Costco Wholesale

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the completion of the sale, the executive vice president now owns 27,400 shares in the company, valued at approximately $24,514,232. This trade represents a 4.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

Institutional Trading of Costco Wholesale

A number of hedge funds have recently modified their holdings of COST. Renaissance Technologies LLC bought a new position in shares of Costco Wholesale during the 2nd quarter worth approximately $4,202,000. Beck Bode LLC lifted its position in shares of Costco Wholesale by 1.7% during the 2nd quarter. Beck Bode LLC now owns 15,957 shares of the retailer’s stock worth $13,563,000 after buying an additional 260 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Costco Wholesale by 13.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,356 shares of the retailer’s stock worth $1,153,000 after buying an additional 156 shares during the period. Mill Creek Capital Advisors LLC increased its holdings in Costco Wholesale by 12.4% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 2,642 shares of the retailer’s stock valued at $2,246,000 after purchasing an additional 291 shares in the last quarter. Finally, Wulff Hansen & CO. increased its holdings in Costco Wholesale by 16.8% during the 2nd quarter. Wulff Hansen & CO. now owns 1,735 shares of the retailer’s stock valued at $1,475,000 after purchasing an additional 250 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.