Look For Institutional Buying In Costco Wholesale Corp (NASDAQ: COST)

Costco Wholesale Corp (COST) concluded trading on Wednesday at a closing price of $705.69, with 3.2 million shares of worth about $2.26 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 26.33% during that period and on April 3, 2024 the price saw a loss of about -0.79%. Currently the company’s common shares owned by public are about 442.79M shares, out of which, 441.38M shares are available for trading.

However, the stock later moved at a day high price of 740.05, or with a loss of -0.79%. Stock saw a price change of -3.46% in past 5 days and over the past one month there was a price change of -7.05%. Year-to-date (YTD), COST shares are showing a performance of 6.91% which increased to 45.26% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $466.15 but also hit the highest price of $787.08 during that period. The average intraday trading volume for Costco Wholesale Corp shares is 2.14 million. The stock is currently trading -4.17% below its 20-day simple moving average (SMA20), while that difference is down -2.73% for SMA50 and it goes to 16.45% higher than SMA200.

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Costco Wholesale Corp (NASDAQ: COST) currently have 442.79M outstanding shares and institutions hold larger chunk of about 70.68% of that.

The stock has a current market capitalization of $312.97B and its 3Y-monthly beta is at 0.77. PE ratio of stock for trailing 12 months is 46.17, while it has posted earnings per share of $15.28 in the same period. Its PEG reads 4.97 and has Quick Ratio of 0.43 while making debt-to-equity ratio of 0.45. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for COST, volatility over the week remained 1.48% while standing at 1.57% over the month.

Stock’s fiscal year EPS is expected to rise by 12.95% while it is estimated to increase by 8.44% in next year. EPS is likely to shrink at an annualized rate of 9.29% for next 5-years, compared to annual growth of 14.83% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Gordon Haskett on Apr-04-24 offering a Accumulate rating for the stock and assigned a target price of $775 to it. Coverage by Telsey Advisory Group stated Costco Wholesale Corp (COST) stock as an Outperform in their note to investors on March 08, 2024, suggesting a price target of $800 for the stock. On March 04, 2024, Telsey Advisory Group Reiterated their recommendations, while on February 06, 2024, Telsey Advisory Group Reiterated their ratings for the stock with a price target of $750. Stock get a Neutral rating from Northcoast on December 20, 2023.

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