Costco Wholesale (NASDAQ:COST) Shares Up 0.2% – Here’s Why

Costco Wholesale Co. (NASDAQ:COST)’s stock price was up 0.2% during mid-day trading on Thursday . The stock traded as high as $926.67 and last traded at $925.49. Approximately 241,500 shares changed hands during trading, a decline of 86% from the average daily volume of 1,721,430 shares. The stock had previously closed at $923.50.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Sanford C. Bernstein initiated coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 target price for the company. Morgan Stanley raised their price objective on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Roth Mkm boosted their target price on shares of Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Wells Fargo & Company raised their price target 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. Finally, Raymond James boosted their price objective on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the stock 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,013.59.

Costco Wholesale Stock Up 0.1 %

The company has a market cap of $410.23 billion, a P/E ratio of 54.25, a price-to-earnings-growth ratio of 5.60 and a beta of 0.84. The stock has a fifty day moving average price of $949.23 and a two-hundred day moving average price of $900.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43.

Insider Activity at Costco Wholesale

In other news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the completion of the transaction, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at $24,514,232. This represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Costco Wholesale

Several large investors have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new stake in Costco Wholesale during the third quarter worth about $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $55,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Costco Wholesale in the 3rd quarter worth approximately $58,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Costco Wholesale in the fourth quarter valued at approximately $58,000. Finally, Christopher J. Hasenberg Inc grew its holdings in Costco Wholesale by 329.4% during the third quarter. Christopher J. Hasenberg Inc now owns 73 shares of the retailer’s stock valued at $65,000 after purchasing an additional 56 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

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.