Costco Wholesale (NASDAQ:COST) Shares Up 1.7% - Time to Buy?

Costco Wholesale Co. (NASDAQ:COST - Get Free Report) shares shot up 1.7% during mid-day trading on Friday . The stock traded as high as $936.94 and last traded at $935.40. 793,068 shares were traded 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 Ratings Changes

A number of research firms recently commented on COST. Truist Financial boosted their price target on Costco Wholesale from $909.00 to $935.00 and gave the stock a "hold" rating in a report on Friday, December 13th. Evercore ISI raised their target price on shares of Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an "overweight" rating in a research note on Thursday, December 12th. The Goldman Sachs Group boosted their price target on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a "buy" rating in a research note on Friday, September 27th. Morgan Stanley raised their price objective on Costco Wholesale from $950.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Finally, BMO Capital Markets boosted their target price on Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale presently has an average rating of "Moderate Buy" and a consensus target price of $1,013.59.

Costco Wholesale Stock Performance

The firm has a 50-day moving average price of $949.82 and a two-hundred day moving average price of $901.47. 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 P/E ratio of 55.38, a P/E/G ratio of 5.60 and a beta of 0.84.

Insider Activity at Costco Wholesale

In other news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction on Thursday, October 24th. The stock was 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 owns 27,400 shares of the company's stock, valued at approximately $24,514,232. This represents a 4.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

Institutional Trading of Costco Wholesale

Several institutional investors and hedge funds have recently made changes to their positions in COST. International Assets Investment Management LLC raised its holdings in shares of 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 purchasing an additional 7,364,453 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Costco Wholesale by 55.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,068,772 shares of the retailer's stock worth $979,284,000 after buying an additional 382,367 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in Costco Wholesale by 75,894.4% in the third quarter. Pathway Financial Advisers LLC now owns 338,935 shares of the retailer's stock worth $300,473,000 after buying an additional 338,489 shares in the last quarter. FMR LLC boosted its position in Costco Wholesale by 3.6% during the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer's stock valued at $8,252,274,000 after acquiring an additional 324,973 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Costco Wholesale by 56.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 566,864 shares of the retailer's stock valued at $481,829,000 after acquiring an additional 205,237 shares during the period. 68.48% of the stock is currently owned by 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.