Costco Wholesale (NASDAQ:COST) Stock Price Down 0.8% – Here’s Why

Costco Wholesale Co. (NASDAQ:COST)’s share price fell 0.8% during trading on Monday . The company traded as low as $954.75 and last traded at $955.84. 403,846 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 1,921,981 shares. The stock had previously closed at $964.01.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COST. DA Davidson reiterated a “neutral” rating and set a $880.00 price objective on shares of Costco Wholesale in a report on Thursday, October 10th. Wells Fargo & Company boosted their price objective on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Sanford C. Bernstein initiated coverage on shares of Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price target on the stock. StockNews.com downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $908.81.

Costco Wholesale Stock Performance

The company’s fifty day simple moving average is $905.10 and its two-hundred day simple moving average is $869.42. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The stock has a market capitalization of $426.03 billion, a P/E ratio of 58.03, a PEG ratio of 5.93 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The company had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $4.86 earnings per share. As a group, equities analysts forecast that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Insider Activity at Costco Wholesale

In other news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the sale, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This represents a 27.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the completion of the transaction, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This trade represents a 4.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,016 shares of company stock worth $9,826,115. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

A number of large investors have recently bought and sold shares of COST. RPg Family Wealth Advisory LLC acquired a new position in shares of Costco Wholesale during the 3rd quarter worth $29,000. Financial Connections Group Inc. boosted its stake in shares of Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at approximately $48,000. Ruedi Wealth Management Inc. grew its holdings in shares of Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after purchasing an additional 25 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Costco Wholesale during the 2nd quarter valued at approximately $50,000. 68.48% of the stock is currently 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.