Costco Wholesale (NASDAQ:COST) Downgraded by Redburn Atlantic to “Neutral”

Redburn Atlantic downgraded shares of Costco Wholesale (NASDAQ:COST) from a buy rating to a neutral rating in a research note released on Tuesday, Marketbeat reports. The brokerage currently has $890.00 price target on the retailer’s stock, up from their prior price target of $860.00.

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a buy rating in a research report on Thursday, August 8th. Robert W. Baird lifted their target price on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an outperform rating in a report on Thursday, July 11th. Telsey Advisory Group restated an outperform rating and issued a $925.00 price target on shares of Costco Wholesale in a research note on Friday, September 6th. Oppenheimer lifted their price objective on Costco Wholesale from $925.00 to $955.00 and gave the company an outperform rating in a research note on Friday, September 6th. Finally, Argus increased their target price on Costco Wholesale from $805.00 to $900.00 and gave the stock a buy rating in a research note on Tuesday, May 28th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $844.52.

Costco Wholesale Trading Down 0.2 %

NASDAQ COST opened at $894.29 on Tuesday. The firm has a market capitalization of $396.47 billion, a PE ratio of 55.41, a P/E/G ratio of 5.33 and a beta of 0.80. The stock’s 50 day moving average is $859.16 and its 200 day moving average is $802.98. Costco Wholesale has a twelve month low of $540.23 and a twelve month high of $918.93. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio is 28.75%.

Insiders Place Their Bets

In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the transaction, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the transaction, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,974 shares of company stock worth $4,252,856. 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 modified their holdings of the stock. Main Street Financial Solutions LLC increased its holdings in shares of Costco Wholesale by 4.7% in the fourth quarter. Main Street Financial Solutions LLC now owns 1,763 shares of the retailer’s stock worth $1,164,000 after purchasing an additional 79 shares during the last quarter. Zhang Financial LLC boosted its position in shares of Costco Wholesale by 3.8% during the 1st quarter. Zhang Financial LLC now owns 1,010 shares of the retailer’s stock valued at $740,000 after acquiring an additional 37 shares during the last quarter. Strong Tower Advisory Services grew its holdings in shares of Costco Wholesale by 7.9% in the first quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock valued at $1,346,000 after purchasing an additional 137 shares in the last quarter. Aigen Investment Management LP bought a new stake in Costco Wholesale in the fourth quarter worth $3,871,000. Finally, Strait & Sound Wealth Management LLC raised its stake in Costco Wholesale by 21.0% during the fourth quarter. Strait & Sound Wealth Management LLC now owns 5,930 shares of the retailer’s stock valued at $4,057,000 after purchasing an additional 1,028 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

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.