Costco Wholesale (NASDAQ:COST) Stock Price Down 0.5% – Here’s Why

Costco Wholesale Co. (NASDAQ:COST)’s share price dropped 0.5% on Tuesday . The stock traded as low as $915.01 and last traded at $917.49. Approximately 357,945 shares changed hands during trading, a decline of 82% from the average daily volume of 1,937,193 shares. The stock had previously closed at $922.21.

Wall Street Analyst Weigh In

COST has been the topic of several recent analyst reports. Citigroup boosted their price target on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Robert W. Baird upped 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. TD Cowen raised their price target on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Barclays upped their price target on shares of Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group raised their price objective on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $1,011.74.

Costco Wholesale Trading Down 0.9 %

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The stock has a market capitalization of $405.87 billion, a price-to-earnings ratio of 53.69, a price-to-earnings-growth ratio of 6.02 and a beta of 0.82. The business has a fifty day moving average of $941.74 and a 200-day moving average of $895.27.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $1.16 dividend. The ex-dividend date was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. Costco Wholesale’s payout ratio is currently 27.25%.

Insider Buying and Selling

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the sale, the executive vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,816 shares of company stock worth $6,981,347. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

Several large investors have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in Costco Wholesale during the third quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Costco Wholesale during the 3rd quarter valued at $58,000. Fairway Wealth LLC increased its stake in shares of Costco Wholesale by 230.0% in the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after acquiring an additional 46 shares during the last quarter. Christopher J. Hasenberg Inc raised its holdings 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 in the last quarter. Finally, VitalStone Financial LLC acquired a new stake in Costco Wholesale during the third quarter valued at $71,000. 68.48% of the stock is owned by institutional investors and hedge funds.

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.