Costco Wholesale (NASDAQ:COST) Shares Up 1.7% – Time to Buy?

Costco Wholesale Co. (NASDAQ:COST) rose 1.7% during trading on Monday . The stock traded as high as $997.77 and last traded at $997.03. Approximately 754,185 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 1,858,147 shares. The stock had previously closed at $979.88.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Truist Financial increased their price target on Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research report on Friday, December 13th. Evercore ISI boosted their price objective on Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. TD Cowen raised 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. Finally, Wells Fargo & Company boosted their target price on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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 stock has a 50-day moving average of $954.51 and a 200-day moving average of $908.28. The firm has a market cap of $446.49 billion, a price-to-earnings ratio of 59.06, a price-to-earnings-growth ratio of 5.84 and a beta of 0.84.

Costco Wholesale Announces Dividend

The firm 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 0.46%. The ex-dividend date of this dividend is Friday, February 7th. Costco Wholesale’s payout ratio is 27.25%.

Institutional Investors Weigh In On Costco Wholesale

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC bought a new stake in Costco Wholesale during the third quarter worth about $29,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $33,000. Collier Financial bought a new position in shares of Costco Wholesale in the fourth quarter valued at $35,000. Barrett & Company Inc. increased its holdings in Costco Wholesale by 59.3% during the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock worth $39,000 after buying an additional 16 shares during the last quarter. Finally, FSC Wealth Advisors LLC bought a new stake in Costco Wholesale during the fourth quarter worth $41,000. 68.48% of the stock is currently 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.