Costco Wholesale (NASDAQ:COST) Shares Down 0.4% - Here's What Happened

Costco Wholesale Co. (NASDAQ:COST - Get Free Report)'s share price was down 0.4% during mid-day trading on Friday . The company traded as low as $962.88 and last traded at $971.32. Approximately 333,590 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 2,025,265 shares. The stock had previously closed at $975.48.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COST. JPMorgan Chase & Co. increased their target price on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Loop Capital decreased their price target on shares of Costco Wholesale from $1,150.00 to $1,045.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Evercore ISI lifted their price objective on Costco Wholesale from $1,050.00 to $1,070.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. Cowen restated a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Finally, Mizuho initiated coverage on Costco Wholesale in a research note on Friday, April 11th. They issued a "neutral" rating and a $975.00 price target on the stock. Ten analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, Costco Wholesale currently has a consensus rating of "Moderate Buy" and an average price target of $1,024.03.

Costco Wholesale Stock Performance

The business has a 50 day moving average price of $964.78 and a two-hundred day moving average price of $956.90. The stock has a market cap of $440.00 billion, a P/E ratio of 58.23, a price-to-earnings-growth ratio of 6.15 and a beta of 0.95. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.09 by ($0.07). The company had revenue of $63.72 billion for the quarter, compared to the consensus estimate of $63.02 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. On average, sell-side analysts forecast that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 2nd will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.52%. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Friday, May 2nd. Costco Wholesale's payout ratio is 30.36%.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, CEO Roland Michael Vachris sold 3,600 shares of Costco Wholesale 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 transaction, the chief executive officer now directly owns 41,077 shares of the company's stock, valued at $38,242,687. This trade represents a 8.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP James C. Klauer sold 4,000 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 43,994 shares in the company, valued at $43,161,193.58. This represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,600 shares of company stock valued at $9,140,195. Insiders own 0.18% of the company's stock.

Institutional Trading of Costco Wholesale

Several hedge funds and other institutional investors have recently bought and sold shares of COST. Vanguard Group Inc. boosted its position in shares of Costco Wholesale by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 42,201,610 shares of the retailer's stock valued at $38,668,069,000 after buying an additional 455,043 shares during the period. Geode Capital Management LLC grew its stake in Costco Wholesale by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer's stock worth $8,901,249,000 after acquiring an additional 252,118 shares in the last quarter. FMR LLC boosted its holdings in shares of Costco Wholesale by 1.6% in the fourth quarter. FMR LLC now owns 9,457,824 shares of the retailer's stock valued at $8,665,921,000 after purchasing an additional 149,209 shares during the period. GAMMA Investing LLC increased its holdings in Costco Wholesale by 106,402.1% during the 1st quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock worth $7,717,744,000 after purchasing an additional 8,152,528 shares during the period. Finally, Norges Bank bought a new position in shares of Costco Wholesale during the 4th quarter worth $5,182,316,000. Hedge funds and other institutional investors own 68.48% of the company's stock.

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.