Costco Wholesale (NASDAQ:COST) Shares Down 2% – Here’s What Happened

Shares of Costco Wholesale Co. (NASDAQ:COST) fell 2% during trading on Thursday . The company traded as low as $1,033.85 and last traded at $1,041.08. 592,867 shares changed hands during trading, a decline of 68% from the average session volume of 1,865,286 shares. The stock had previously closed at $1,062.54.

Analyst Upgrades and Downgrades

A number of research firms have commented on COST. UBS Group upped their price objective on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Robert W. Baird upped their price objective on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Barclays upped 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 note on Friday, December 13th. Loop Capital upped their price objective 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. Finally, Raymond James upped their price objective on shares of 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 research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus target price of $1,021.93.

Costco Wholesale Price 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 company has a fifty day moving average price of $973.78 and a two-hundred day moving average price of $928.24. The company has a market cap of $460.11 billion, a P/E ratio of 60.85, a PEG ratio of 6.28 and a beta of 0.84.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.45%. Costco Wholesale’s dividend payout ratio is presently 27.25%.

Institutional Investors Weigh In On Costco Wholesale

Several hedge funds have recently bought and sold shares of COST. International Assets Investment Management LLC raised its holdings 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 during the period. Norges Bank acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at $5,182,316,000. Proficio Capital Partners LLC boosted its position in Costco Wholesale by 74,796.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer’s stock valued at $1,394,465,000 after buying an additional 1,519,861 shares in the last quarter. Leigh Baldwin & CO. LLC bought a new stake in Costco Wholesale during the 4th quarter worth $95,452,000. Finally, Strategic Financial Concepts LLC increased its holdings in Costco Wholesale by 100,422.3% in 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. 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.