Costco Wholesale (NASDAQ:COST) Stock Price Down 0.3% – Here’s What Happened

Costco Wholesale Co. (NASDAQ:COST) shares were down 0.3% during mid-day trading on Tuesday . The company traded as low as $955.50 and last traded at $962.25. Approximately 679,553 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 1,854,138 shares. The stock had previously closed at $965.25.

Analyst Ratings Changes

COST has been the subject of several research reports. Stifel Nicolaus raised their price objective on shares of Costco Wholesale from $935.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Robert W. Baird lifted their price target on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Truist Financial raised their price objective on shares of Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research note on Friday, December 13th. Telsey Advisory Group reiterated an “outperform” rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Thursday, January 9th. Finally, Citigroup raised their price target on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and an average price target of $1,013.59.

Costco Wholesale Trading Up 1.6 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The firm has a market capitalization of $434.58 billion, a P/E ratio of 57.49, a PEG ratio of 5.63 and a beta of 0.84. The firm has a 50 day simple moving average of $953.78 and a two-hundred day simple moving average of $906.03.

Costco Wholesale Dividend Announcement

The company 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 dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.47%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.25%.

Institutional Trading of Costco Wholesale

A number of institutional investors and hedge funds have recently modified their holdings of the business. 3Chopt Investment Partners LLC purchased a new stake in Costco Wholesale during the second quarter valued at about $446,000. New Century Financial Group LLC grew its stake in Costco Wholesale by 15.0% in the 2nd quarter. New Century Financial Group LLC now owns 474 shares of the retailer’s stock valued at $403,000 after buying an additional 62 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Costco Wholesale in the 2nd quarter valued at approximately $2,667,000. Centennial Bank AR raised its holdings in Costco Wholesale by 1.2% during the 2nd quarter. Centennial Bank AR now owns 1,977 shares of the retailer’s stock valued at $1,680,000 after acquiring an additional 24 shares during the period. Finally, Brown Financial Advisors bought a new position in shares of Costco Wholesale in the second quarter worth $1,328,000. 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.