Costco Wholesale (NASDAQ:COST) Stock Price Down 1.5%

Shares of Costco Wholesale Co. (NASDAQ:COST) were down 1.5% on Tuesday . The stock traded as low as $901.90 and last traded at $903.17. Approximately 560,001 shares changed hands during trading, a decline of 71% from the average daily volume of 1,948,092 shares. The stock had previously closed at $917.08.

Wall Street Analysts Forecast Growth

COST has been the subject of a number of research analyst reports. TD Cowen upped their price target on shares of Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a report on Friday, July 12th. Tigress Financial increased their price objective on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Truist Financial downgraded Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price for the company. in a report on Tuesday. Oppenheimer lifted their price target on Costco Wholesale from $925.00 to $955.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company upped their price objective on shares of Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Nine 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 has a consensus rating of “Moderate Buy” and a consensus price target of $857.48.

Costco Wholesale Stock Performance

The stock’s 50-day moving average price is $866.22 and its 200 day moving average price is $812.45. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The company has a market cap of $400.69 billion, a P/E ratio of 55.96, a price-to-earnings-growth ratio of 5.51 and a beta of 0.80.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Insider Activity

In related news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Costco Wholesale

Several hedge funds and other institutional investors have recently modified their holdings of COST. Frank Rimerman Advisors LLC acquired a new stake in shares of Costco Wholesale during the 4th quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Costco Wholesale during the first quarter worth approximately $32,000. Financial Connections Group Inc. raised its stake in shares of Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares during the last quarter. Vima LLC acquired a new position in shares of Costco Wholesale in the 4th quarter worth approximately $34,000. Finally, Bank & Trust Co bought a new position in Costco Wholesale in the 2nd quarter valued at $48,000. 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.