Costco Wholesale (NASDAQ:COST) Shares Down 1.5% After Insider Selling

Costco Wholesale Corporation (NASDAQ:COST) shares fell 1.5% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $910.30 and last traded at $910.34. Approximately 2,206,697 shares traded hands during trading, an increase of 0% from the average session volume of 2,202,307 shares. The stock had previously closed at $924.59.

Specifically, EVP Claudine Adamo sold 2,200 shares of the stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $915.93, for a total transaction of $2,015,046.00. Following the sale, the executive vice president directly owned 7,134 shares in the company, valued at $6,534,244.62. This represents a 23.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on COST shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a report on Friday, September 25th. Freedom Broker cut their price target on Costco Wholesale from $1,030.00 to $1,010.00 and set a “buy” rating on the stock in a report on Friday, September 25th. Jefferies Financial Group lowered their price objective on Costco Wholesale from $1,130.00 to $1,100.00 in a research note on Friday, September 25th. BTIG Research reiterated a “buy” rating and issued a $1,125.00 price objective on shares of Costco Wholesale in a research note on Wednesday, September 23rd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $1,160.00 target price on shares of Costco Wholesale in a research note on Wednesday, September 16th. Twenty-two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,046.27.

Costco Wholesale Trading Up 0.5%

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.06 and a quick ratio of 0.62. The stock’s 50-day simple moving average is $933.05 and its two-hundred day simple moving average is $965.29. The firm has a market capitalization of $405.76 billion, a P/E ratio of 44.07, a price-to-earnings-growth ratio of 3.89 and a beta of 0.88.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.21. The company had revenue of $95.72 billion for the quarter, compared to the consensus estimate of $94.97 billion. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. Costco Wholesale’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.87 earnings per share. Equities research analysts expect that Costco Wholesale Corporation will post 22.86 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were issued a $1.47 dividend. The ex-dividend date was Friday, July 24th. This represents a $5.88 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s dividend payout ratio is presently 28.32%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in COST. Graybill Wealth Management LTD. grew its stake in Costco Wholesale by 0.3% during the 4th quarter. Graybill Wealth Management LTD. now owns 3,194 shares of the retailer’s stock valued at $2,754,000 after acquiring an additional 10 shares in the last quarter. Palisade Asset Management LLC lifted its stake in Costco Wholesale by 1.4% during the 4th quarter. Palisade Asset Management LLC now owns 702 shares of the retailer’s stock worth $605,000 after acquiring an additional 10 shares in the last quarter. Wealth Effects LLC increased its position in shares of Costco Wholesale by 1.2% during the first quarter. Wealth Effects LLC now owns 874 shares of the retailer’s stock worth $871,000 after acquiring an additional 10 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. lifted its position in shares of Costco Wholesale by 1.8% during the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 551 shares of the retailer’s stock worth $549,000 after purchasing an additional 10 shares during the last quarter. Finally, First National Bank of Hutchinson raised its holdings in Costco Wholesale by 0.9% during the first quarter. First National Bank of Hutchinson now owns 1,098 shares of the retailer’s stock worth $1,094,000 after purchasing an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

About Costco Wholesale

Costco Wholesale Corporation operates a membership-based warehouse retail business under the Costco name. The company sells a broad selection of merchandise, including groceries, fresh foods, beverages, appliances, electronics, furniture, apparel, jewelry, hardware, and seasonal products. It also offers services such as gasoline, pharmacies, optical departments, hearing-aid centers, food courts, travel services, and business delivery in selected markets.

Costco markets many products under its private-label Kirkland Signature brand and sells merchandise through warehouse locations and e-commerce platforms.