Costco Wholesale (NASDAQ:COST) Trading Down 0.6% – Here’s Why

Shares of Costco Wholesale Co. (NASDAQ:COST) dropped 0.6% during mid-day trading on Wednesday . The stock traded as low as $940.11 and last traded at $942.18. Approximately 358,762 shares changed hands during trading, a decline of 80% from the average daily volume of 1,775,011 shares. The stock had previously closed at $947.73.

Wall Street Analysts Forecast Growth

COST has been the topic of several analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research report on Thursday, January 9th. UBS Group upped their price objective on Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Stifel Nicolaus lifted their price objective on Costco Wholesale from $935.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Truist Financial lifted their target price on Costco Wholesale from $909.00 to $935.00 and gave the company a “hold” rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company lifted their target price on Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.59.

Costco Wholesale Trading Down 0.5 %

The stock has a market cap of $418.50 billion, a PE ratio of 55.37, a price-to-earnings-growth ratio of 5.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The company’s 50-day moving average price is $950.34 and its 200 day moving average price is $902.74.

Insider Activity at Costco Wholesale

In related news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the sale, the executive vice president now owns 27,400 shares in the company, valued at $24,514,232. This represents a 4.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

Institutional Trading of Costco Wholesale

Several hedge funds have recently modified their holdings of COST. Fermata Advisors LLC boosted its holdings in Costco Wholesale by 0.6% during the third quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock valued at $1,745,000 after acquiring an additional 11 shares during the period. Sculati Wealth Management LLC lifted its stake in shares of Costco Wholesale by 0.3% in the third quarter. Sculati Wealth Management LLC now owns 3,649 shares of the retailer’s stock valued at $3,235,000 after buying an additional 11 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Costco Wholesale by 0.3% in the fourth quarter. Sivia Capital Partners LLC now owns 3,708 shares of the retailer’s stock valued at $3,398,000 after buying an additional 11 shares during the period. Gill Capital Partners LLC raised its position in Costco Wholesale by 0.9% in the fourth quarter. Gill Capital Partners LLC now owns 1,270 shares of the retailer’s stock worth $1,164,000 after purchasing an additional 11 shares in the last quarter. Finally, Scott Capital Advisors LLC raised its position in Costco Wholesale by 0.8% in the fourth quarter. Scott Capital Advisors LLC now owns 1,348 shares of the retailer’s stock worth $1,247,000 after purchasing an additional 11 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

About Costco Wholesale

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.