Costco Wholesale (NASDAQ:COST) Trading Down 0.6% - What's Next?

Costco Wholesale Co. (NASDAQ:COST - Get Free Report)'s stock price was down 0.6% during trading on Wednesday . The company traded as low as $976.55 and last traded at $986.10. Approximately 406,683 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 2,026,562 shares. The stock had previously closed at $991.70.

Analyst Ratings Changes

Several research firms have issued reports on COST. Barclays increased their price objective on Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Cowen reiterated a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Truist Financial increased their target price on shares of Costco Wholesale from $935.00 to $995.00 and gave the stock a "hold" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. raised their target price on Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Finally, Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Ten analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,024.03.

Costco Wholesale Trading Down 0.2 %

The business's 50-day simple moving average is $963.93 and its 200-day simple moving average is $957.14. 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 $439.01 billion, a PE ratio of 58.10, a P/E/G ratio of 6.15 and a beta of 0.95.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing the consensus estimate of $4.09 by ($0.07). The firm had revenue of $63.72 billion during 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%. As a group, analysts expect that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.53%. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date is Friday, May 2nd. Costco Wholesale's dividend payout ratio is presently 30.36%.

Insiders Place Their Bets

In related news, EVP Claudine Adamo sold 900 shares of Costco Wholesale stock in a transaction on Monday, March 24th. The shares were sold at an average price of $922.56, for a total value of $830,304.00. Following the transaction, the executive vice president now owns 6,987 shares in the company, valued at $6,445,926.72. This trade represents a 11.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 of the company's stock, valued at $43,161,193.58. This trade represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,600 shares of company stock valued at $9,140,195 over the last quarter. Insiders own 0.18% of the company's stock.

Institutional Investors Weigh In On Costco Wholesale

A number of institutional investors have recently added to or reduced their stakes in COST. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale during the fourth quarter valued at approximately $25,000. Synergy Investment Management LLC bought a new position in shares of Costco Wholesale during the fourth quarter valued at $31,000. NewSquare Capital LLC boosted its stake in shares of Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock valued at $32,000 after purchasing an additional 25 shares in the last quarter. Endeavor Private Wealth Inc. acquired a new stake in shares of Costco Wholesale during the 4th quarter worth about $33,000. Finally, Collier Financial acquired a new position in Costco Wholesale in the fourth quarter valued at about $35,000. 68.48% of the stock is owned by institutional investors and hedge funds.

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.

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