Costco Wholesale (NASDAQ:COST) Trading Down 0.7% – Here’s Why

Costco Wholesale Co. (NASDAQ:COST)’s stock price was down 0.7% during trading on Tuesday . The stock traded as low as $914.35 and last traded at $917.96. Approximately 425,639 shares traded hands during trading, a decline of 75% from the average daily volume of 1,719,197 shares. The stock had previously closed at $924.70.

Analysts Set New Price Targets

COST has been the topic of several research reports. Robert W. Baird raised their target price on Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. StockNews.com cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. TD Cowen increased their target price on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Melius Research initiated coverage on shares of Costco Wholesale in a research report on Monday, September 23rd. They set a “hold” rating and a $950.00 price target on the stock. Finally, Tigress Financial reiterated a “buy” rating and issued a $1,065.00 price objective on shares of Costco Wholesale in a report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $1,013.59.

Costco Wholesale Stock Performance

The stock has a market capitalization of $405.00 billion, a PE ratio of 53.57, a price-to-earnings-growth ratio of 6.02 and a beta of 0.84. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average of $948.69 and a 200-day moving average of $899.73.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.25%.

Insider Activity

In other news, EVP Richard A. Galanti sold 1,416 shares of the business’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 completion of the sale, the executive vice president now owns 27,400 shares in the company, 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 link. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

A number of institutional investors and hedge funds have recently bought and sold shares of COST. RPg Family Wealth Advisory LLC purchased a new stake in shares of Costco Wholesale during the third quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Costco Wholesale in the 3rd quarter worth $58,000. Fairway Wealth LLC boosted its holdings in shares of Costco Wholesale by 230.0% in the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after acquiring an additional 46 shares in the last quarter. Christopher J. Hasenberg Inc increased its stake in shares of Costco Wholesale by 329.4% during the third quarter. Christopher J. Hasenberg Inc now owns 73 shares of the retailer’s stock worth $65,000 after acquiring an additional 56 shares during the period. Finally, VitalStone Financial LLC purchased a new position in Costco Wholesale during the third quarter worth about $71,000. 68.48% of the stock is 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.