Costco Wholesale (NASDAQ:COST) Stock Price Up 0% – Here’s What Happened

Costco Wholesale Co. (NASDAQ:COST) traded up 0% during mid-day trading on Friday . The stock traded as high as $874.60 and last traded at $874.34. 305,025 shares were traded during trading, a decline of 84% from the average session volume of 1,916,643 shares. The stock had previously closed at $874.18.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Sanford C. Bernstein started coverage on shares of Costco Wholesale in a report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 price target for the company. TD Cowen raised their target price on shares of Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Wells Fargo & Company raised their target price on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Evercore ISI increased their price target on shares of Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley increased their price target on shares of Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus price target of $905.30.

Costco Wholesale Stock Performance

The company’s fifty day simple moving average is $892.20 and its two-hundred day simple moving average is $844.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The company has a market capitalization of $388.71 billion, a price-to-earnings ratio of 52.95, a price-to-earnings-growth ratio of 5.38 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 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 business had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. During the same period in the previous year, the business posted $4.86 EPS. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the sale, the executive vice president now directly owns 10,210 shares in the company, valued at approximately $9,155,409.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the sale, the executive vice president now directly owns 27,400 shares in the company, valued at $24,514,232. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction that occurred 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 in the company, valued at approximately $9,155,409.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,636 shares of company stock valued at $11,238,510 in the last ninety days. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in COST. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in Costco Wholesale by 62.8% during 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 in the last quarter. Cantor Fitzgerald Investment Advisors L.P. lifted its stake in shares of Costco Wholesale by 66.9% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock worth $2,738,000 after buying an additional 1,238 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in Costco Wholesale by 52.1% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock valued at $6,499,000 after purchasing an additional 2,620 shares during the last quarter. Patton Fund Management Inc. acquired a new position in Costco Wholesale during the 3rd quarter valued at $6,424,000. Finally, WestHill Financial Advisors Inc. raised its stake in shares of Costco Wholesale by 328.4% in the 3rd quarter. WestHill Financial Advisors Inc. now owns 1,435 shares of the retailer’s stock valued at $1,272,000 after buying an additional 1,100 shares in the last quarter. 68.48% of the stock is 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.