Costco Wholesale (NASDAQ:COST) Shares Down 0.7% – Should You Sell?

Costco Wholesale Co. (NASDAQ:COST)’s share price dropped 0.7% during mid-day trading on Tuesday . The stock traded as low as $914.35 and last traded at $917.96. Approximately 425,639 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 1,719,197 shares. The stock had previously closed at $924.70.

Analyst Ratings Changes

Several equities research analysts recently commented on COST shares. Stifel Nicolaus lifted their price target on shares of Costco Wholesale from $935.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Melius Research started coverage on Costco Wholesale in a research report on Monday, September 23rd. They set a “hold” rating and a $950.00 target price on the stock. Barclays boosted their target price on Costco Wholesale from $850.00 to $940.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Thursday, January 9th. Finally, StockNews.com cut Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,013.59.

Costco Wholesale Stock Performance

The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average is $949.72 and its 200 day moving average is $900.36. The stock has a market capitalization of $408.28 billion, a price-to-earnings ratio of 54.01, a PEG ratio of 5.60 and a beta of 0.84.

Insiders Place Their Bets

In other news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction on 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 sale, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Institutional Trading of Costco Wholesale

Several large investors have recently added to or reduced their stakes in COST. RPg Family Wealth Advisory LLC purchased a new stake in shares of Costco Wholesale during the 3rd quarter valued at about $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $55,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Costco Wholesale during the fourth quarter worth $58,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Costco Wholesale in the third quarter valued at $58,000. Finally, Christopher J. Hasenberg Inc grew its holdings in Costco Wholesale by 329.4% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 73 shares of the retailer’s stock valued at $65,000 after purchasing an additional 56 shares in the last quarter. 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.