Costco Wholesale (NASDAQ:COST) Stock Price Down 1% – Should You Sell?

Costco Wholesale Co. (NASDAQ:COST) dropped 1% during trading on Monday . The company traded as low as $921.00 and last traded at $927.35. Approximately 454,957 shares changed hands during trading, a decline of 74% from the average daily volume of 1,736,214 shares. The stock had previously closed at $936.94.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Robert W. Baird boosted their price target on shares of Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Jefferies Financial Group increased their price target on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Raymond James boosted their price objective on Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. The Goldman Sachs Group boosted their price objective on shares of Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Truist Financial raised their price objective on shares of Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,013.59.

Costco Wholesale Stock Down 1.1 %

The company has a market cap of $411.46 billion, a PE ratio of 54.43, a P/E/G ratio of 6.02 and a beta of 0.84. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The business has a 50-day simple moving average of $947.92 and a 200-day simple moving average of $899.20.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $1.16 dividend. The ex-dividend date was Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.50%. Costco Wholesale’s dividend payout ratio is presently 27.25%.

Insider Activity at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the transaction, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at $9,155,409.10. The trade was a 16.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the sale, the executive vice president now owns 27,400 shares in the company, valued at $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Costco Wholesale

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Costco Wholesale by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock worth $2,489,574,000 after acquiring an additional 32,074 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in Costco Wholesale by 62.8% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after purchasing an additional 932 shares during the last quarter. Hudson Value Partners LLC raised its holdings in Costco Wholesale by 7.6% during the third quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after purchasing an additional 568 shares in the last quarter. Nwam LLC purchased a new stake in shares of Costco Wholesale during the 3rd quarter worth approximately $20,056,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Costco Wholesale by 15.0% in the 4th quarter. GAMMA Investing LLC now owns 7,662 shares of the retailer’s stock valued at $7,020,000 after buying an additional 1,001 shares in 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.