Costco Wholesale (NASDAQ:COST) Hits New 12-Month High – Should You Buy?

Costco Wholesale Co. (NASDAQ:COST)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $1,063.00 and last traded at $1,061.92, with a volume of 2034273 shares. The stock had previously closed at $1,043.81.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Evercore ISI boosted their target price on shares of Costco Wholesale from $1,040.00 to $1,070.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Truist Financial increased their price objective on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. Jefferies Financial Group lifted their target price on Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Loop Capital increased 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 report on Friday, December 13th. Finally, Tigress Financial reaffirmed a “buy” rating and set a $1,065.00 price objective on shares of Costco Wholesale in a research report on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.93.

Costco Wholesale Price Performance

The company has a market cap of $471.39 billion, a P/E ratio of 62.36, a P/E/G ratio of 6.26 and a beta of 0.84. The stock has a 50-day simple moving average of $961.27 and a 200 day simple moving average of $915.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be paid 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 payout ratio is currently 27.25%.

Institutional Investors Weigh In On Costco Wholesale

Several large investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new position in shares of Costco Wholesale during the third quarter valued at $29,000. Synergy Investment Management LLC bought a new stake in Costco Wholesale during the fourth quarter worth about $31,000. NewSquare Capital LLC boosted its stake in Costco Wholesale by 250.0% in the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after purchasing an additional 25 shares in the last quarter. Endeavor Private Wealth Inc. acquired a new position in Costco Wholesale in the fourth quarter worth $33,000. Finally, Collier Financial acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at $35,000. 68.48% of the stock is currently owned by 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.