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

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Redburn Atlantic lowered Costco Wholesale from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $860.00 to $890.00 in a report on Tuesday, September 10th. StockNews.com downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Raymond James upped their price target on Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Oppenheimer reiterated an “outperform” rating and set a $1,075.00 target price (up from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Finally, Evercore ISI raised their target price on Costco Wholesale from $1,019.00 to $1,020.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.74.

Costco Wholesale Trading Down 0.6 %

The business’s 50 day moving average price is $942.54 and its two-hundred day moving average price is $895.84. The company has a market capitalization of $406.73 billion, a price-to-earnings ratio of 53.80, a P/E/G ratio of 6.02 and a beta of 0.82. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25.

Costco Wholesale Dividend Announcement

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

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the 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 sale, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. This trade represents a 4.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 10,202 shares in the company, valued at $9,091,512.30. This represents a 30.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,816 shares of company stock worth $6,981,347. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. TIAA Trust National Association lifted its position in Costco Wholesale by 0.4% in the 2nd quarter. TIAA Trust National Association now owns 21,156 shares of the retailer’s stock valued at $17,982,000 after acquiring an additional 80 shares in the last quarter. Magnus Financial Group LLC lifted its stake in Costco Wholesale by 3.7% in the second quarter. Magnus Financial Group LLC now owns 1,097 shares of the retailer’s stock valued at $932,000 after purchasing an additional 39 shares during the last quarter. Oxinas Partners Wealth Management LLC purchased a new position in shares of Costco Wholesale during the 2nd quarter valued at $237,000. Oregon Public Employees Retirement Fund raised its stake in Costco Wholesale by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 38,121 shares of the retailer’s stock valued at $32,402,000 after acquiring an additional 222 shares during the period. Finally, Aveo Capital Partners LLC boosted its position in Costco Wholesale by 3.3% during the second quarter. Aveo Capital Partners LLC now owns 1,297 shares of the retailer’s stock worth $1,102,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds 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.