Costco Wholesale (NASDAQ:COST) Trading Up 1.7% – Still a Buy?

Costco Wholesale Co. (NASDAQ:COST) shares shot up 1.7% during trading on Friday . The company traded as high as $936.94 and last traded at $935.40. 793,068 shares changed hands during trading, a decline of 54% from the average session volume of 1,722,926 shares. The stock had previously closed at $919.75.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COST. Melius Research began coverage on Costco Wholesale in a research report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price objective for the company. Loop Capital boosted their price target on 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. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Thursday, January 9th. Tigress Financial reiterated a “buy” rating and issued a $1,065.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 17th. Finally, Wells Fargo & Company increased 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 research note on Friday, December 13th. Nine 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.59.

Costco Wholesale Trading Up 2.5 %

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The firm has a market capitalization of $418.68 billion, a PE ratio of 55.38, a PEG ratio of 5.60 and a beta of 0.84. The firm’s fifty day moving average is $949.82 and its two-hundred day moving average is $901.17.

Insider Activity

In related news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the transaction, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. The trade was a 4.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Costco Wholesale

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of Costco Wholesale by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer’s stock worth $8,380,648,000 after purchasing an additional 162,191 shares during the period. FMR LLC raised its stake in shares of Costco Wholesale by 3.6% in the third quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock valued at $8,252,274,000 after buying an additional 324,973 shares during the period. International Assets Investment Management LLC lifted its position in shares of Costco Wholesale by 113,947.9% during 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 buying an additional 7,364,453 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Costco Wholesale by 2.5% during the 2nd quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock worth $3,102,941,000 after acquiring an additional 88,550 shares during the period. Finally, Jennison Associates LLC increased its holdings in Costco Wholesale by 3.8% in the 3rd quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock worth $3,013,394,000 after acquiring an additional 125,444 shares during the last quarter. 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.