Costco Wholesale (NASDAQ:COST) Trading Down 1.1% - Here's Why

Costco Wholesale Corporation (NASDAQ:COST - Get Free Report)'s share price fell 1.1% during mid-day trading on Tuesday . The stock traded as low as $993.24 and last traded at $993.91. 471,427 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 2,057,563 shares. The stock had previously closed at $1,004.48.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Costco Wholesale in a report on Friday, March 7th. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Tuesday, June 3rd. Evercore ISI dropped their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research note on Thursday, May 29th. Finally, Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,034.79.

Costco Wholesale Stock Performance

The stock has a 50-day moving average price of $1,004.32 and a 200 day moving average price of $981.29. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $437.51 billion, a price-to-earnings ratio of 55.96, a P/E/G ratio of 5.92 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company had revenue of $63.21 billion during the quarter, compared to analysts' expectations of $62.93 billion. During the same quarter in the previous year, the business posted $3.78 EPS. The firm's revenue was up 8.0% on a year-over-year basis. On average, analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, May 2nd. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio is 29.50%.

Insider Buying and Selling at Costco Wholesale

In other news, EVP James C. Klauer sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the transaction, the executive vice president now directly owns 43,994 shares in the company, valued at approximately $43,161,193.58. This trade represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the transaction, the director now directly owns 11,531 shares in the company, valued at $11,300,380. The trade was a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,647 shares of company stock worth $10,530,961 over the last ninety days. Corporate insiders own 0.18% of the company's stock.

Institutional Trading of Costco Wholesale

Several institutional investors and hedge funds have recently added to or reduced their stakes in COST. May Barnhard Investments LLC purchased a new position in Costco Wholesale in the fourth quarter worth $485,000. Ironwood Wealth Management LLC. boosted its stake in shares of Costco Wholesale by 0.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 3,852 shares of the retailer's stock worth $3,529,000 after purchasing an additional 22 shares during the last quarter. Brighton Jones LLC grew its stake in Costco Wholesale by 12.3% in the 4th 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 during the period. Revolve Wealth Partners LLC increased its stake in Costco Wholesale by 13.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after purchasing an additional 130 shares during the last quarter. Finally, SOA Wealth Advisors LLC. boosted its position in shares of Costco Wholesale by 33.3% in the fourth quarter. SOA Wealth Advisors LLC. now owns 188 shares of the retailer's stock worth $172,000 after acquiring an additional 47 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

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.