Costco Wholesale (NASDAQ:COST) Stock Price Up 1%

Costco Wholesale Co. (NASDAQ:COST)’s stock price shot up 1% during mid-day trading on Monday . The stock traded as high as $916.73 and last traded at $916.11. 573,585 shares traded hands during trading, a decline of 71% from the average session volume of 1,949,288 shares. The stock had previously closed at $906.98.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Tigress Financial lifted their price target on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Truist Financial raised their price objective on shares of Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, May 31st. TD Cowen upped their target price on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. BMO Capital Markets lifted their price target on Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Finally, Citigroup raised their price objective on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $857.48.

Costco Wholesale Price Performance

The firm has a market capitalization of $406.47 billion, a PE ratio of 56.74, a P/E/G ratio of 5.51 and a beta of 0.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The stock has a fifty day moving average price of $864.85 and a 200-day moving average price of $811.52.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the transaction, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. Insiders have sold 4,974 shares of company stock worth $4,252,856 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Costco Wholesale

A number of large investors have recently bought and sold shares of the business. Frank Rimerman Advisors LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Costco Wholesale during the first quarter valued at about $32,000. Vima LLC purchased a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $34,000. DSM Capital Partners LLC purchased a new position in shares of Costco Wholesale during the 4th quarter worth approximately $36,000. Finally, Financial Connections Group Inc. lifted its stake in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

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.