Costco Wholesale (NASDAQ:COST) Shares Down 1.3% - Should You Sell?

Costco Wholesale Corporation (NASDAQ:COST - Get Free Report)'s stock price was down 1.3% during mid-day trading on Tuesday . The company traded as low as $968.51 and last traded at $968.56. Approximately 550,463 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 2,055,909 shares. The stock had previously closed at $980.91.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Mizuho assumed coverage on shares of Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 price target for the company. Loop Capital decreased their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a report on Thursday, July 10th. Finally, Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a report on Thursday, May 29th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,037.48.

Costco Wholesale Trading Down 1.0%

The stock has a market cap of $424.82 billion, a P/E ratio of 54.33, a PEG ratio of 6.10 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The business's 50 day simple moving average is $1,002.24 and its 200 day simple moving average is $982.43.

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

Insider Activity at Costco Wholesale

In other news, EVP Pierre Riel sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the completion of the sale, the executive vice president owned 8,210 shares of the company's stock, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Patrick J. Callans sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the sale, the executive vice president directly owned 58,543 shares of the company's stock, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,547 shares of company stock valued at $13,396,790. Insiders own 0.18% of the company's stock.

Institutional Trading of Costco Wholesale

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Register Financial Advisors LLC increased its holdings in shares of Costco Wholesale by 191.9% in the second quarter. Register Financial Advisors LLC now owns 1,693 shares of the retailer's stock valued at $1,676,000 after purchasing an additional 1,113 shares in the last quarter. Essex Financial Services Inc. increased its holdings in shares of Costco Wholesale by 4.3% in the second quarter. Essex Financial Services Inc. now owns 4,614 shares of the retailer's stock valued at $4,567,000 after purchasing an additional 192 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Costco Wholesale by 1.3% in the second quarter. Perigon Wealth Management LLC now owns 22,003 shares of the retailer's stock valued at $21,781,000 after purchasing an additional 291 shares in the last quarter. Magnus Financial Group LLC increased its holdings in shares of Costco Wholesale by 10.2% in the second quarter. Magnus Financial Group LLC now owns 1,585 shares of the retailer's stock valued at $1,569,000 after purchasing an additional 147 shares in the last quarter. Finally, Motive Wealth Advisors increased its holdings in shares of Costco Wholesale by 13.4% in the second quarter. Motive Wealth Advisors now owns 525 shares of the retailer's stock valued at $520,000 after purchasing an additional 62 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.