Costco Wholesale (NASDAQ:COST) Trading 2.5% Higher - Here's What Happened

Costco Wholesale Co. (NASDAQ:COST - Get Free Report)'s stock price shot up 2.5% on Monday . The company traded as high as $943.80 and last traded at $943.19. 2,367,034 shares traded hands during trading, an increase of 29% from the average session volume of 1,832,091 shares. The stock had previously closed at $919.75.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. DA Davidson lifted their target price on shares of Costco Wholesale from $880.00 to $900.00 and gave the company a "neutral" rating in a research report on Friday, December 13th. Oppenheimer reiterated an "outperform" rating and issued a $1,075.00 price objective (up from $980.00) on shares of Costco Wholesale in a report on Tuesday, December 10th. Loop Capital increased their target price on Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a "buy" rating in a report on Friday, December 13th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research note on Thursday, January 9th. Finally, Citigroup increased their price objective on Costco Wholesale from $800.00 to $1,060.00 and gave the company a "neutral" rating in a research note on Wednesday, December 18th. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. 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 Stock Performance

The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $418.68 billion, a PE ratio of 55.38, a price-to-earnings-growth ratio of 5.60 and a beta of 0.84. The firm's fifty day moving average is $949.82 and its 200-day moving average is $901.74.

Insider Activity

In other news, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Costco Wholesale

A number of hedge funds and other institutional investors have recently bought and sold shares of COST. RPg Family Wealth Advisory LLC purchased a new position in shares of Costco Wholesale in the third quarter valued at approximately $29,000. Endeavor Private Wealth Inc. acquired a new stake in Costco Wholesale during the 4th quarter worth approximately $33,000. Retirement Wealth Solutions LLC purchased a new position in Costco Wholesale in the 4th quarter valued at approximately $55,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Costco Wholesale in the 3rd quarter valued at approximately $58,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Costco Wholesale in the fourth quarter worth $58,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

About Costco Wholesale

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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