Costco Wholesale (NASDAQ:COST) Shares Up 0.8% After Analyst Upgrade

Costco Wholesale Co. (NASDAQ:COST) shares rose 0.8% on Thursday after DA Davidson raised their price target on the stock from $900.00 to $1,000.00. DA Davidson currently has a neutral rating on the stock. Costco Wholesale traded as high as $1,063.00 and last traded at $1,051.20. Approximately 778,708 shares changed hands during trading, a decline of 59% from the average daily volume of 1,913,452 shares. The stock had previously closed at $1,042.88.

A number of other research firms have also issued reports on COST. 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. Robert W. Baird increased their price target on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Loop Capital increased their price target on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Roth Mkm raised their target price on shares of Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, Barclays lifted their price objective on shares of Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.93.

Hedge Funds Weigh In On Costco Wholesale

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bellevue Asset Management LLC lifted its position in Costco Wholesale by 1.0% during the 4th quarter. Bellevue Asset Management LLC now owns 6,943 shares of the retailer’s stock worth $6,362,000 after acquiring an additional 68 shares in the last quarter. Ethos Financial Group LLC grew its stake in Costco Wholesale by 7.1% during the 4th quarter. Ethos Financial Group LLC now owns 1,568 shares of the retailer’s stock worth $1,439,000 after buying an additional 104 shares during the last quarter. Lindbrook Capital LLC grew its stake in Costco Wholesale by 7.8% during the 4th quarter. Lindbrook Capital LLC now owns 3,913 shares of the retailer’s stock worth $3,586,000 after buying an additional 284 shares during the last quarter. Washington Trust Advisors Inc. grew its stake in Costco Wholesale by 2.7% during the 4th quarter. Washington Trust Advisors Inc. now owns 758 shares of the retailer’s stock worth $695,000 after buying an additional 20 shares during the last quarter. Finally, McDonough Capital Management Inc grew its stake in shares of Costco Wholesale by 13.7% in the fourth quarter. McDonough Capital Management Inc now owns 4,485 shares of the retailer’s stock worth $4,110,000 after purchasing an additional 540 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

The company has a market cap of $466.53 billion, a P/E ratio of 61.71, a PEG ratio of 5.84 and a beta of 0.84. The company has a 50 day moving average price of $958.04 and a 200-day moving average price of $911.67. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

Costco Wholesale Announces Dividend

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

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.