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

Costco Wholesale Co. (NASDAQ:COST) shares dropped 0.5% on Tuesday . The stock traded as low as $915.01 and last traded at $917.49. Approximately 357,945 shares changed hands during trading, a decline of 82% from the average daily volume of 1,937,193 shares. The stock had previously closed at $922.21.

Analyst Upgrades and Downgrades

Several research firms have commented on COST. Raymond James boosted their target price on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Wells Fargo & Company upped their price objective 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. BMO Capital Markets raised their target price on Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Roth Mkm upped their price target on Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, The Goldman Sachs Group raised their price objective on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Nine investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,011.74.

Costco Wholesale Stock Performance

The firm has a market capitalization of $405.87 billion, a price-to-earnings ratio of 53.69, a price-to-earnings-growth ratio of 6.02 and a beta of 0.82. The firm’s 50-day moving average price is $941.74 and its two-hundred day moving average price is $895.27. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97.

Costco Wholesale Announces Dividend

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

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were 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 owns 27,400 shares in the company, valued at $24,514,232. This represents a 4.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,816 shares of company stock valued at $6,981,347. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of COST. Fermata Advisors LLC raised its holdings in Costco Wholesale by 0.6% during the 3rd quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock valued at $1,745,000 after buying an additional 11 shares during the last quarter. Sculati Wealth Management LLC increased its position in shares of Costco Wholesale by 0.3% in the third quarter. Sculati Wealth Management LLC now owns 3,649 shares of the retailer’s stock valued at $3,235,000 after acquiring an additional 11 shares during the period. Perkins Coie Trust Co raised its position in Costco Wholesale by 0.3% during the 3rd quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock valued at $4,144,000 after purchasing an additional 12 shares during the last quarter. Firethorn Wealth Partners LLC raised its holdings in shares of Costco Wholesale by 3.5% during the third quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock valued at $318,000 after acquiring an additional 12 shares in the last quarter. Finally, Horizon Wealth Management LLC lifted its position in shares of Costco Wholesale by 4.7% in the 3rd quarter. Horizon Wealth Management LLC now owns 268 shares of the retailer’s stock worth $237,000 after purchasing an additional 12 shares during the period. 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.