Costco Wholesale (NASDAQ:COST) Shares Down 1.3% – Here’s What Happened

Costco Wholesale Co. (NASDAQ:COST)’s stock price dropped 1.3% on Tuesday . The stock traded as low as $896.84 and last traded at $904.44. Approximately 614,085 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 1,808,672 shares. The stock had previously closed at $916.61.

Analyst Upgrades and Downgrades

COST has been the topic of several recent analyst reports. Barclays increased their price target on shares of Costco Wholesale from $940.00 to $980.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. TD Cowen increased their price target on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Roth Mkm increased their price target on shares of Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Robert W. Baird lifted their target price on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an “outperform” rating in a report on Friday, March 7th. Finally, Cowen reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,030.43.

Costco Wholesale Stock Performance

The stock’s 50 day moving average price is $988.75 and its 200 day moving average price is $944.83. 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 company has a market cap of $401.31 billion, a price-to-earnings ratio of 53.09, a P/E/G ratio of 6.15 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The company had revenue of $63.72 billion for the quarter, compared to analyst estimates of $63.02 billion. On average, analysts expect that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.51%. Costco Wholesale’s dividend payout ratio is currently 27.09%.

Insider Transactions at Costco Wholesale

In other news, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value of $3,351,600.00. Following the completion of the sale, the chief executive officer now owns 41,077 shares of the company’s stock, valued at $38,242,687. This represents a 8.06 % 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. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

Several large investors have recently made changes to their positions in the business. M1 Capital Management LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter worth $481,000. DSG Capital Advisors LLC acquired a new stake in Costco Wholesale during the 4th quarter valued at $8,287,000. Chancellor Financial Group WB LP acquired a new stake in Costco Wholesale during the 4th quarter valued at $1,440,000. 111 Capital acquired a new stake in Costco Wholesale during the 4th quarter valued at $4,911,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Costco Wholesale by 11.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 137,322 shares of the retailer’s stock valued at $125,825,000 after purchasing an additional 14,330 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

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.