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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Roth Mkm upped their price objective on shares of Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. DA Davidson increased their price objective on shares of Costco Wholesale from $880.00 to $900.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Stifel Nicolaus boosted their target price on Costco Wholesale from $935.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Truist Financial increased their price target on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a report on Friday, December 13th. Nine equities research 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,013.59.

Costco Wholesale Price Performance

The company’s 50-day moving average price is $949.72 and its 200-day moving average price is $900.36. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm has a market cap of $408.28 billion, a price-to-earnings ratio of 54.01, a PEG ratio of 5.60 and a beta of 0.84.

Insiders Place Their Bets

In other news, EVP Richard A. Galanti sold 1,416 shares of the company’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Costco Wholesale

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in shares of Costco Wholesale during the 2nd quarter worth $4,202,000. Mutual of America Capital Management LLC raised its stake in Costco Wholesale by 0.9% in the second quarter. Mutual of America Capital Management LLC now owns 62,538 shares of the retailer’s stock valued at $53,157,000 after buying an additional 576 shares in the last quarter. Financial & Tax Architects LLC lifted its holdings in Costco Wholesale by 19.2% during the 2nd quarter. Financial & Tax Architects LLC now owns 1,586 shares of the retailer’s stock worth $1,348,000 after buying an additional 255 shares during the last quarter. E Fund Management Co. Ltd. boosted its position in shares of Costco Wholesale by 6.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 6,557 shares of the retailer’s stock worth $5,573,000 after acquiring an additional 394 shares in the last quarter. Finally, Meridian Wealth Partners LLC increased its holdings in shares of Costco Wholesale by 8.8% in the 2nd quarter. Meridian Wealth Partners LLC now owns 432 shares of the retailer’s stock valued at $367,000 after acquiring an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

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.