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

Shares of Costco Wholesale Co. (NASDAQ:COST) fell 2% on Thursday . The stock 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 Ratings Changes

Several brokerages recently weighed in on COST. Wells Fargo & Company upped their price objective on Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Citigroup upped their price objective on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Loop Capital upped their price objective on Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. DA Davidson upped their price objective on Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a research report on Thursday, February 6th. Finally, Roth Mkm upped their price objective on Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.93.

Costco Wholesale Stock Up 0.0 %

The firm has a 50 day moving average of $975.61 and a 200 day moving average of $930.59. The firm has a market cap of $459.45 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 6.15 and a beta of 0.84. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $1.16 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.45%. Costco Wholesale’s dividend payout ratio is presently 27.25%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in Costco Wholesale by 113,947.9% during the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after acquiring an additional 7,364,453 shares during the period. Norges Bank bought a new stake in Costco Wholesale during the fourth quarter worth $5,182,316,000. Proficio Capital Partners LLC lifted its holdings in Costco Wholesale by 74,796.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer’s stock worth $1,394,465,000 after acquiring an additional 1,519,861 shares during the period. Leigh Baldwin & CO. LLC bought a new stake in Costco Wholesale during the fourth quarter worth $95,452,000. Finally, Strategic Financial Concepts LLC lifted its holdings in Costco Wholesale by 100,422.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer’s stock worth $729,476,000 after acquiring an additional 795,345 shares during the period. Institutional investors own 68.48% of the company’s stock.

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.