Costco Wholesale (NASDAQ:COST) Cut to “Neutral” at Redburn Atlantic

Redburn Atlantic downgraded shares of Costco Wholesale (NASDAQ:COST) from a buy rating to a neutral rating in a research note published on Tuesday morning, MarketBeat reports. They currently have $890.00 price objective on the retailer’s stock, up from their previous price objective of $860.00.

Other research analysts have also recently issued research reports about the stock. Loop Capital boosted their price objective on shares of Costco Wholesale from $970.00 to $975.00 and gave the company a buy rating in a research report on Friday, September 6th. Morgan Stanley upped their price objective on Costco Wholesale from $855.00 to $950.00 and gave the company an overweight rating in a research report on Monday. Argus lifted their target price on Costco Wholesale from $805.00 to $900.00 and gave the stock a buy rating in a research report on Tuesday, May 28th. Stifel Nicolaus upped their target price on shares of Costco Wholesale from $910.00 to $915.00 and gave the stock a buy rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company lifted their price target 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. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $844.52.

Costco Wholesale Price Performance

COST stock opened at $915.03 on Tuesday. The company has a fifty day simple moving average of $860.97 and a two-hundred day simple moving average of $804.43. Costco Wholesale has a 52 week low of $540.23 and a 52 week high of $918.93. 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 firm has a market capitalization of $405.66 billion, a P/E ratio of 56.69, a price-to-earnings-growth ratio of 5.33 and a beta of 0.80.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a $1.16 dividend. 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 is currently 28.75%.

Insider Transactions at Costco Wholesale

In other news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the sale, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. In the last three months, insiders sold 4,974 shares of company stock valued at $4,252,856. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

Several institutional investors have recently bought and sold shares of the company. Frank Rimerman Advisors LLC purchased a new position in Costco Wholesale during the fourth quarter worth about $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Costco Wholesale during the 1st quarter worth approximately $32,000. Financial Connections Group Inc. lifted its holdings 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 buying an additional 39 shares during the period. Vima LLC acquired a new position in Costco Wholesale during the fourth quarter worth $34,000. Finally, DSM Capital Partners LLC acquired a new position in Costco Wholesale during the fourth quarter worth $36,000. 68.48% of the stock is 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.