Costco Wholesale (NASDAQ:COST) Trading 0.2% Higher - Still a Buy?

Costco Wholesale Co. (NASDAQ:COST - Get Free Report) shares were 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 traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,721,430 shares. The stock had previously closed at $923.50.

Analyst Upgrades and Downgrades

Several analysts have recently commented on COST shares. Morgan Stanley increased their target price on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Truist Financial increased their price objective on shares of Costco Wholesale from $909.00 to $935.00 and gave the stock a "hold" rating in a report on Friday, December 13th. Evercore ISI boosted their target price on shares of Costco Wholesale from $1,019.00 to $1,020.00 and gave the stock an "overweight" rating in a research note on Thursday, December 12th. TD Cowen raised their price target on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a "buy" rating in a report on Friday, December 13th. Finally, 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 report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,013.59.

Costco Wholesale Stock Performance

The firm has a market cap of $410.23 billion, a price-to-earnings ratio of 54.25, a price-to-earnings-growth ratio of 5.60 and a beta of 0.84. The stock's 50 day moving average is $949.23 and its 200 day moving average is $900.20. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23.

Insider Buying and Selling

In other news, EVP Richard A. Galanti sold 1,416 shares of the firm's stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction 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. This trade represents a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Costco Wholesale

A number of large investors have recently added to or reduced their stakes in COST. Geode Capital Management LLC grew its holdings in shares of Costco Wholesale by 1.7% during 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 in the last quarter. FMR LLC grew its stake in Costco Wholesale by 3.6% during the third quarter. FMR LLC now owns 9,308,615 shares of the retailer's stock worth $8,252,274,000 after buying an additional 324,973 shares in the last quarter. International Assets Investment Management LLC increased 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 buying an additional 7,364,453 shares during the period. Legal & General Group Plc raised its position in shares of Costco Wholesale by 2.5% in the 2nd quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer's stock valued at $3,102,941,000 after buying an additional 88,550 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Costco Wholesale by 3.8% during 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 period. Institutional investors and hedge funds 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.

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