Costco Wholesale (NASDAQ:COST) Stock Price Down 2.9% – Should You Sell?

Shares of Costco Wholesale Corporation (NASDAQ:COST) traded down 2.9% on Thursday . The company traded as low as $888.08 and last traded at $895.86. 3,745,651 shares changed hands during mid-day trading, an increase of 64% from the average session volume of 2,279,616 shares. The stock had previously closed at $922.26.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on COST shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Costco Wholesale in a research report on Monday. Sanford C. Bernstein cut their price objective on shares of Costco Wholesale from $1,140.00 to $1,134.00 and set an “outperform” rating on the stock in a report on Tuesday, November 4th. DA Davidson reiterated a “neutral” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a research note on Thursday. Mizuho lowered their target price on shares of Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Finally, JPMorgan Chase & Co. cut their price target on shares of Costco Wholesale from $1,050.00 to $1,025.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Nineteen equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,027.75.

Costco Wholesale Trading Down 2.9%

The stock’s 50 day simple moving average is $921.05 and its two-hundred day simple moving average is $957.21. The stock has a market capitalization of $397.02 billion, a PE ratio of 49.20, a PEG ratio of 6.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating the consensus estimate of $5.81 by $0.06. The business had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.15 earnings per share. On average, sell-side analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were paid a $1.30 dividend. The ex-dividend date was Friday, October 31st. This represents a $5.20 annualized dividend and a yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.56%.

Insider Buying and Selling

In related news, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the transaction, the executive vice president owned 9,740 shares of the company’s stock, valued at approximately $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the sale, the executive vice president directly owned 6,851 shares in the company, valued at $6,410,343.68. This trade represents a 28.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 9,720 shares of company stock worth $9,010,257 over the last quarter. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Costco Wholesale

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COST. Brighton Jones LLC raised its position in shares of Costco Wholesale by 12.3% during the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock valued at $18,165,000 after buying an additional 2,172 shares in the last quarter. 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 acquiring an additional 130 shares during the last quarter. Advyzon Investment Management LLC purchased a new stake in Costco Wholesale during the first quarter valued at about $241,000. Intrust Bank NA lifted its stake in Costco Wholesale by 2.2% during the first quarter. Intrust Bank NA now owns 5,140 shares of the retailer’s stock worth $4,861,000 after purchasing an additional 112 shares during the last quarter. Finally, Natural Investments LLC boosted its holdings in shares of Costco Wholesale by 1.6% in the 1st quarter. Natural Investments LLC now owns 3,127 shares of the retailer’s stock worth $2,957,000 after purchasing an additional 50 shares in the last quarter. 68.48% of the stock is currently 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.