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

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Roth Mkm boosted their price objective on Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. TD Cowen increased their target price on Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Barclays raised their price target on Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Loop Capital upped their price objective 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. Finally, Robert W. Baird boosted their target price on Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Nine equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $1,013.59.

Costco Wholesale Stock Performance

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 company’s 50-day moving average price is $953.78 and its 200 day moving average price is $906.03. The stock has a market capitalization of $434.58 billion, a PE ratio of 57.49, a PEG ratio of 5.63 and a beta of 0.84.

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

Hedge Funds Weigh In On Costco Wholesale

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew 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 last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in Costco Wholesale by 62.8% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after purchasing an additional 932 shares during the last quarter. Hudson Value Partners LLC raised its holdings in Costco Wholesale by 7.6% in the third quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after buying an additional 568 shares during the last quarter. Nwam LLC bought a new position in shares of Costco Wholesale in the third quarter worth approximately $20,056,000. Finally, CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $8,430,000. Hedge funds and other 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.