Costco Wholesale (NASDAQ:COST) Shares Down 0.6% – Here’s Why

Shares of Costco Wholesale Co. (NASDAQ:COST) fell 0.6% during mid-day trading on Wednesday . The company traded as low as $940.11 and last traded at $942.18. 358,762 shares were traded during mid-day trading, a decline of 80% from the average session volume of 1,775,011 shares. The stock had previously closed at $947.73.

Analyst Ratings Changes

COST has been the subject of a number of research analyst reports. Loop Capital lifted their price target on Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Jefferies Financial Group boosted their target price on Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Tigress Financial reaffirmed a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a report on Thursday, October 17th. Evercore ISI upped their price objective on shares of Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Finally, UBS Group raised their target price on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.59.

Costco Wholesale Stock Down 0.3 %

The company has a market capitalization of $417.12 billion, a price-to-earnings ratio of 55.18, a P/E/G ratio of 5.63 and a beta of 0.84. 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 firm’s fifty day moving average price is $950.92 and its 200-day moving average price is $903.31.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders 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 0.49%. Costco Wholesale’s payout ratio is presently 27.25%.

Institutional Investors Weigh In On Costco Wholesale

Several hedge funds have recently added to or reduced their stakes in COST. Charles Schwab Investment Management Inc. lifted its stake in shares of Costco Wholesale by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock worth $2,489,574,000 after acquiring an additional 32,074 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in shares of Costco Wholesale by 62.8% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock worth $2,143,000 after purchasing an additional 932 shares during the period. Hudson Value Partners LLC boosted its stake in shares of Costco Wholesale by 7.6% in the 3rd quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock valued at $7,133,000 after purchasing an additional 568 shares during the last quarter. Nwam LLC acquired a new stake in shares of Costco Wholesale during the third quarter worth $20,056,000. Finally, CHURCHILL MANAGEMENT Corp bought a new position in Costco Wholesale during the fourth quarter worth $8,430,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Company Profile

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.