Costco Wholesale (NASDAQ:COST) Stock Price Down 2% – Here’s What Happened

Shares of Costco Wholesale Co. (NASDAQ:COST) traded down 2% during trading on Thursday . The company traded as low as $1,033.85 and last traded at $1,041.08. 592,867 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 1,865,286 shares. The stock had previously closed at $1,062.54.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley lifted their price objective on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Barclays boosted their target price on Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a research 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 research report on Thursday, December 5th. Roth Mkm boosted their target price on Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, Truist Financial boosted their target price on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.93.

Costco Wholesale Price Performance

The stock has a market cap of $459.45 billion, a price-to-earnings ratio of 60.78, a price-to-earnings-growth ratio of 6.15 and a beta of 0.84. The company has a 50-day simple moving average of $975.61 and a two-hundred day simple moving average of $930.59. 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 was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s payout ratio is presently 27.25%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new position in Costco Wholesale in the 4th quarter valued at $25,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Costco Wholesale during the 3rd quarter valued at $29,000. Synergy Investment Management LLC bought a new stake in shares of Costco Wholesale during the 4th quarter valued at $31,000. NewSquare Capital LLC lifted its position in shares of Costco Wholesale by 250.0% during 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. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of Costco Wholesale during the 4th quarter valued at $33,000. 68.48% of the stock is 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.