Costco Wholesale (NASDAQ:COST) Reaches New 1-Year High – Here’s What Happened

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Loop Capital lifted their target price on Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Tigress Financial reiterated a “buy” rating and issued a $1,065.00 price objective on shares of Costco Wholesale in a research report on Thursday, October 17th. Oppenheimer restated an “outperform” rating and set a $1,075.00 target price (up from $980.00) on shares of Costco Wholesale in a research report on Tuesday, December 10th. DA Davidson lifted their price target on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a research report on Thursday, February 6th. Finally, TD Cowen increased their price objective on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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 PEG ratio of 6.26 and a beta of 0.84. 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 has a fifty day moving average price of $961.27 and a two-hundred day moving average price of $915.02.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, February 7th. Costco Wholesale’s payout ratio is presently 27.25%.

Institutional Trading of Costco Wholesale

Several institutional investors and hedge funds have recently added to or reduced their stakes in COST. RPg Family Wealth Advisory LLC acquired a new position in Costco Wholesale during the third quarter worth approximately $29,000. Synergy Investment Management LLC acquired a new position in shares of Costco Wholesale during the 4th quarter worth approximately $31,000. NewSquare Capital LLC raised its stake in Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock valued at $32,000 after acquiring an additional 25 shares during the period. Endeavor Private Wealth Inc. bought a new position in Costco Wholesale during the fourth quarter worth $33,000. Finally, Collier Financial acquired a new position in shares of Costco Wholesale in the fourth quarter valued at $35,000. 68.48% of the stock is 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.