Costco Wholesale (NASDAQ:COST) Stock Price Down 1.6% – What’s Next?

by · The Cerbat Gem

Shares of Costco Wholesale Corporation (NASDAQ:COST – Get Free Report) traded down 1.6% on Wednesday . The company traded as low as $871.09 and last traded at $874.41. 3,283,637 shares changed hands during trading, an increase of 44% from the average session volume of 2,283,708 shares. The stock had previously closed at $888.44.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COST. Gordon Haskett reduced their price objective on shares of Costco Wholesale from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research report on Monday, December 1st. Argus lifted their price target on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Citigroup decreased their price objective on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Costco Wholesale in a report on Monday. Finally, Hovde Group began coverage on Costco Wholesale in a research report on Tuesday, November 18th. They set a “market perform” rating and a $16.00 target price on the stock. Nineteen investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,023.41.

Get Our Latest Stock Report on Costco Wholesale

Costco Wholesale Stock Down 1.6%

The business’s fifty day moving average price is $918.35 and its 200 day moving average price is $952.99. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $388.20 billion, a PE ratio of 48.02, a PEG ratio of 6.02 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST – Get Free Report) last released its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. The firm had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company posted $5.15 earnings per share. On average, equities research analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale’s payout ratio is presently 28.56%.

Insider Buying and Selling

In other Costco Wholesale news, insider Tiffany Marie Barbre sold 1,239 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $934.62, for a total value of $1,157,994.18. Following the transaction, the insider directly owned 5,155 shares of the company’s stock, valued at approximately $4,817,966.10. The trade was a 19.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William Richard Wilcox sold 2,400 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $930.13, for a total transaction of $2,232,312.00. Following the transaction, the executive vice president owned 2,000 shares of the company’s stock, valued at approximately $1,860,260. The trade was a 54.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,720 shares of company stock worth $9,010,257 over the last three months. 0.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Brighton Jones LLC raised its position in Costco Wholesale by 12.3% in the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock worth $18,165,000 after acquiring an additional 2,172 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock worth $1,029,000 after purchasing an additional 130 shares in the last quarter. Maia Wealth LLC grew its stake in shares of Costco Wholesale by 7.5% during the 1st quarter. Maia Wealth LLC now owns 519 shares of the retailer’s stock worth $509,000 after purchasing an additional 36 shares during the period. Financial Engines Advisors L.L.C. increased its holdings in shares of Costco Wholesale by 17.6% in the 1st quarter. Financial Engines Advisors L.L.C. now owns 4,193 shares of the retailer’s stock valued at $3,965,000 after purchasing an additional 629 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC lifted its stake in shares of Costco Wholesale by 3.8% in the first quarter. Sustainable Insight Capital Management LLC now owns 2,760 shares of the retailer’s stock valued at $2,610,000 after purchasing an additional 100 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Company Profile

(Get Free Report)

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.

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