Costco Wholesale (NASDAQ:COST) Shares Down 1.6% - Here's Why

Costco Wholesale Co. (NASDAQ:COST - Get Free Report)'s share price dropped 1.6% during mid-day trading on Tuesday . The company traded as low as $1,030.77 and last traded at $1,030.52. Approximately 684,050 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 1,830,102 shares. The stock had previously closed at $1,046.85.

Wall Street Analysts Forecast Growth

COST has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Costco Wholesale from $850.00 to $940.00 and gave the stock an "equal weight" rating in a research note on Friday, December 13th. DA Davidson lifted their price target on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the stock a "neutral" rating in a research note on Thursday, February 6th. BMO Capital Markets lifted their price target on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Wells Fargo & Company lifted their price target on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the stock an "equal weight" rating in a research note on Friday, December 13th. Finally, Citigroup lifted their price target on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 18th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,021.93.

Costco Wholesale Stock Up 1.0 %

The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $465.10 billion, a price-to-earnings ratio of 61.52, a PEG ratio of 6.15 and a beta of 0.84. The firm's 50 day simple moving average is $987.79 and its 200-day simple moving average is $941.75.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $1.16 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.44%. Costco Wholesale's dividend payout ratio is currently 27.25%.

Hedge Funds Weigh In On Costco Wholesale

Several institutional investors have recently bought and sold shares of the company. Castle Rock Wealth Management LLC increased its stake in Costco Wholesale by 5.3% in the 4th quarter. Castle Rock Wealth Management LLC now owns 3,900 shares of the retailer's stock valued at $3,573,000 after buying an additional 196 shares during the period. Dogwood Wealth Management LLC grew its stake in shares of Costco Wholesale by 11.8% during the 4th quarter. Dogwood Wealth Management LLC now owns 2,134 shares of the retailer's stock worth $1,955,000 after purchasing an additional 226 shares during the period. Smith Shellnut Wilson LLC ADV grew its stake in shares of Costco Wholesale by 3.3% during the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 1,271 shares of the retailer's stock worth $1,165,000 after purchasing an additional 41 shares during the period. GHE LLC grew its stake in shares of Costco Wholesale by 2.5% during the 4th quarter. GHE LLC now owns 6,640 shares of the retailer's stock worth $6,084,000 after purchasing an additional 165 shares during the period. Finally, Cim LLC grew its stake in shares of Costco Wholesale by 0.8% during the 4th quarter. Cim LLC now owns 22,448 shares of the retailer's stock worth $20,569,000 after purchasing an additional 177 shares during the period. 68.48% of the stock is 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.