Costco Wholesale (NASDAQ:COST) Trading Down 0.5% – Here’s What Happened

Costco Wholesale Co. (NASDAQ:COST)’s share price was down 0.5% on Monday . The stock traded as low as $1,068.01 and last traded at $1,071.85. Approximately 1,409,326 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 1,921,622 shares. The stock had previously closed at $1,076.86.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on COST shares. BMO Capital Markets upped their target price on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company upped their target price on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Monday, February 3rd. Jefferies Financial Group increased their price objective on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, DA Davidson increased their price objective on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the company a “neutral” rating in a report on Thursday, February 6th. Nine investment 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 an average rating of “Moderate Buy” and a consensus target price of $1,021.93.

Costco Wholesale Price Performance

The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $471.66 billion, a PE ratio of 62.39, a price-to-earnings-growth ratio of 6.37 and a beta of 0.84. The stock’s 50-day moving average is $972.43 and its two-hundred day moving average is $927.29.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is currently 27.25%.

Institutional Trading of Costco Wholesale

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in shares of Costco Wholesale by 113,947.9% during the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after acquiring an additional 7,364,453 shares during the period. Norges Bank purchased a new position in shares of Costco Wholesale during the fourth quarter worth approximately $5,182,316,000. Proficio Capital Partners LLC increased its position in shares of Costco Wholesale by 74,796.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer’s stock worth $1,394,465,000 after acquiring an additional 1,519,861 shares during the period. Leigh Baldwin & CO. LLC purchased a new position in shares of Costco Wholesale during the fourth quarter worth approximately $95,452,000. Finally, Strategic Financial Concepts LLC increased its position in shares of Costco Wholesale by 100,422.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer’s stock worth $729,476,000 after acquiring an additional 795,345 shares during the period. 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.