Costco Wholesale (NASDAQ:COST) Stock Price Down 1.4% – What’s Next?

Shares of Costco Wholesale Co. (NASDAQ:COST) were down 1.4% during trading on Thursday . The stock traded as low as $895.66 and last traded at $896.61. Approximately 448,499 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,951,950 shares. The stock had previously closed at $909.10.

Analyst Ratings Changes

Several analysts have weighed in on COST shares. Redburn Atlantic cut shares of Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $860.00 to $890.00 in a research note on Tuesday, September 10th. Melius Research started coverage on shares of Costco Wholesale in a research report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price target for the company. DA Davidson reissued a “neutral” rating and set a $880.00 price target on shares of Costco Wholesale in a research report on Thursday. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective for the company in a report on Thursday, August 8th. Finally, Roth Mkm boosted their price target on Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $886.74.

Costco Wholesale Price Performance

The company has a 50 day moving average price of $882.80 and a 200-day moving average price of $826.67. The company has a market cap of $394.14 billion, a price-to-earnings ratio of 55.08, a P/E/G ratio of 5.53 and a beta of 0.80. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same period in the prior year, the company posted $4.86 EPS. The company’s revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts predict that Costco Wholesale Co. will post 17.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the completion of the sale, the insider now owns 10,992 shares of the company’s stock, valued at approximately $9,327,041.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $848.53, for a total value of $1,272,795.00. Following the completion of the transaction, the insider now directly owns 10,992 shares of the company’s stock, valued at approximately $9,327,041.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,674 shares of company stock valued at $5,831,324. 0.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Costco Wholesale

A number of large investors have recently bought and sold shares of the stock. Fermata Advisors LLC increased its position in Costco Wholesale by 0.6% during the 3rd quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock worth $1,745,000 after purchasing an additional 11 shares during the period. Oak Asset Management LLC lifted its holdings in shares of Costco Wholesale by 0.3% in the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after purchasing an additional 12 shares in the last quarter. Peddock Capital Advisors LLC grew its position in shares of Costco Wholesale by 0.7% in the second quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after purchasing an additional 12 shares during the last quarter. Perkins Coie Trust Co lifted its stake in Costco Wholesale by 0.3% in the 3rd quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock valued at $4,144,000 after buying an additional 12 shares in the last quarter. Finally, Bedel Financial Consulting Inc. raised its holdings in shares of Costco Wholesale by 1.3% in the first quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock worth $729,000 after acquiring an additional 13 shares during the last quarter. 68.48% of the stock is currently 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.