Costco Wholesale (NASDAQ:COST) Trading Down 0.4% After Analyst Downgrade

Costco Wholesale Co. (NASDAQ:COST) shares dropped 0.4% during mid-day trading on Friday after StockNews.com downgraded the stock from a buy rating to a hold rating. The stock traded as low as $728.00 and last traded at $729.45. Approximately 306,353 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 2,108,795 shares. The stock had previously closed at $732.35.

COST has been the subject of a number of other research reports. Loop Capital decreased their target price on Costco Wholesale from $830.00 to $820.00 and set a “buy” rating for the company in a research report on Thursday. Roth Mkm boosted their target price on Costco Wholesale from $601.00 to $650.00 and gave the stock a “neutral” rating in a research report on Thursday. BMO Capital Markets boosted their price target on Costco Wholesale from $612.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, December 15th. DA Davidson restated a “neutral” rating and set a $680.00 price target on shares of Costco Wholesale in a research note on Thursday. Finally, Truist Financial boosted their price target on Costco Wholesale from $693.00 to $741.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average price target of $691.28.

Insider Buying and Selling

In related news, EVP Claudine Adamo sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $714.83, for a total value of $1,072,245.00. Following the transaction, the executive vice president now directly owns 6,695 shares of the company’s stock, valued at approximately $4,785,786.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Susan L. Decker sold 1,442 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $723.48, for a total value of $1,043,258.16. Following the transaction, the director now directly owns 12,395 shares of the company’s stock, valued at approximately $8,967,534.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Claudine Adamo sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $714.83, for a total value of $1,072,245.00. Following the sale, the executive vice president now directly owns 6,695 shares in the company, valued at $4,785,786.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,182 shares of company stock valued at $9,809,558. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

Several hedge funds have recently modified their holdings of COST. Richelieu Gestion SA purchased a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $26,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $26,000. Morton Brown Family Wealth LLC raised its holdings in Costco Wholesale by 200.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after buying an additional 30 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Costco Wholesale during the 4th quarter valued at $30,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Down 0.1 %

The company has a fifty day moving average of $730.68 and a two-hundred day moving average of $655.35. The company has a market cap of $324.34 billion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 5.00 and a beta of 0.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.43 and a current ratio of 0.93.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.09. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The company had revenue of $58.44 billion for the quarter, compared to analyst estimates of $59.11 billion. During the same quarter in the prior year, the firm posted $3.30 EPS. Costco Wholesale’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, analysts anticipate that Costco Wholesale Co. will post 15.81 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, April 25th. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio (DPR) is currently 26.68%.

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.