Costco Wholesale (NASDAQ:COST) Sets New 52-Week High – Here’s What Happened

Costco Wholesale Co. (NASDAQ:COST) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $1,009.61 and last traded at $1,005.83, with a volume of 2745684 shares trading hands. The stock had previously closed at $979.88.

Wall Street Analysts Forecast Growth

COST has been the topic of a number of recent research reports. Robert W. Baird upped their price target on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. TD Cowen raised their price target on Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Telsey Advisory Group reiterated an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research note on Monday. Morgan Stanley raised their target price on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Sanford C. Bernstein began coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $1,013.59.

Costco Wholesale Price Performance

The firm’s 50 day simple moving average is $956.42 and its two-hundred day simple moving average is $910.75. 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 has a market capitalization of $462.93 billion, a P/E ratio of 61.24, a P/E/G ratio of 5.84 and a beta of 0.84.

Costco Wholesale Announces Dividend

The business also recently announced 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 0.44%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s dividend payout ratio is presently 27.25%.

Hedge Funds Weigh In On Costco Wholesale

A number of large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Costco Wholesale by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock valued at $2,489,574,000 after acquiring an additional 32,074 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings in Costco Wholesale by 62.8% in the third 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 buying an additional 932 shares during the period. Hudson Value Partners LLC boosted its position in Costco Wholesale by 7.6% during the 3rd quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock valued at $7,133,000 after acquiring an additional 568 shares in the last quarter. Nwam LLC purchased a new position in shares of Costco Wholesale during the 3rd quarter worth approximately $20,056,000. Finally, CHURCHILL MANAGEMENT Corp bought a new position in shares of Costco Wholesale in the 4th quarter worth approximately $8,430,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

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.