Costco Wholesale (NASDAQ:COST) Trading Down 0.6% – Here’s Why

Shares of Costco Wholesale Co. (NASDAQ:COST) fell 0.6% during mid-day trading on Wednesday . The stock traded as low as $912.54 and last traded at $916.27. 1,740,609 shares were traded during mid-day trading, a decline of 10% from the average session volume of 1,942,804 shares. The stock had previously closed at $922.21.

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group raised their target price on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Raymond James raised their price objective on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. TD Cowen boosted 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 note on Friday, December 13th. Robert W. Baird lifted their price objective on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Finally, Sanford C. Bernstein assumed coverage on shares of Costco Wholesale in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.74.

Costco Wholesale Trading Down 0.7 %

The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $942.87 and a 200-day simple moving average of $895.94. The company has a market capitalization of $403.86 billion, a PE ratio of 53.42, a PEG ratio of 6.02 and a beta of 0.82.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given 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 payout ratio is currently 27.25%.

Insiders Place Their Bets

In other news, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the sale, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. The trade was a 16.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. The trade was a 30.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,816 shares of company stock valued at $6,981,347 over the last ninety days. Company 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 the company. Fermata Advisors LLC grew its holdings in shares of Costco Wholesale by 0.6% in the third quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock valued at $1,745,000 after purchasing an additional 11 shares in the last quarter. Sculati Wealth Management LLC grew its stake in shares of Costco Wholesale by 0.3% in the third quarter. Sculati Wealth Management LLC now owns 3,649 shares of the retailer’s stock worth $3,235,000 after acquiring an additional 11 shares in the last quarter. Perkins Coie Trust Co increased its position in shares of Costco Wholesale by 0.3% during the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock worth $4,144,000 after acquiring an additional 12 shares during the period. Horizon Wealth Management LLC raised its stake in shares of Costco Wholesale by 4.7% in the third quarter. Horizon Wealth Management LLC now owns 268 shares of the retailer’s stock valued at $237,000 after acquiring an additional 12 shares in the last quarter. Finally, Firethorn Wealth Partners LLC boosted its holdings in Costco Wholesale by 3.5% in the third quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock valued at $318,000 after purchasing an additional 12 shares during the period. 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.