Costco Wholesale (NASDAQ:COST) Trading Down 0.1% – Here’s What Happened

Costco Wholesale Co. (NASDAQ:COST) was down 0.1% during mid-day trading on Tuesday . The company traded as low as $1,053.10 and last traded at $1,061.17. Approximately 494,037 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,908,035 shares. The stock had previously closed at $1,061.92.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Roth Mkm lifted their price target on Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Stifel Nicolaus increased their price target on shares of Costco Wholesale from $1,000.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Sanford C. Bernstein began coverage on shares of Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price objective on the stock. 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. Finally, Raymond James upped their price objective on Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Nine equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,021.93.

Costco Wholesale Trading Down 0.7 %

The firm has a market cap of $468.17 billion, a P/E ratio of 61.83, a PEG ratio of 6.26 and a beta of 0.84. 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 company’s 50 day moving average is $963.01 and its two-hundred day moving average is $916.76.

Costco Wholesale Dividend Announcement

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

Institutional Investors Weigh In On Costco Wholesale

Several hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in Costco Wholesale by 113,947.9% in the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after acquiring an additional 7,364,453 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Costco Wholesale by 74,796.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer’s stock worth $1,394,465,000 after purchasing an additional 1,519,861 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Costco Wholesale by 100,422.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer’s stock worth $729,476,000 after purchasing an additional 795,345 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Costco Wholesale by 55.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,068,772 shares of the retailer’s stock valued at $979,284,000 after buying an additional 382,367 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its position in Costco Wholesale by 75,894.4% during the third quarter. Pathway Financial Advisers LLC now owns 338,935 shares of the retailer’s stock worth $300,473,000 after acquiring an additional 338,489 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

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.