Costco Wholesale Corp. (COST) Trading Down 3.1%
Costco Wholesale Corp. (NASDAQ:COST)’s share price traded down 3.1% during mid-day trading on Thursday . The stock traded as low as $156.37 and last traded at $157.05, with a volume of 3,037,593 shares. The stock had previously closed at $162.09.
Several equities analysts have issued reports on the company. Robert W. Baird reaffirmed a “buy” rating on shares of Costco Wholesale Corp. in a report on Monday, May 16th. Zacks Investment Research raised Costco Wholesale Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Costco Wholesale Corp. in a report on Saturday, July 9th. Goldman Sachs Group Inc. raised Costco Wholesale Corp. from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $169.00 to $175.00 in a report on Wednesday, June 1st. Finally, Argus reaffirmed a “buy” rating and set a $175.00 price objective on shares of Costco Wholesale Corp. in a report on Tuesday, July 5th. Seven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $173.25.
The company has a 50 day moving average of $166.62 and a 200-day moving average of $156.13. The stock has a market capitalization of $69.21 billion and a PE ratio of 29.86.
The company also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, August 10th.
In other news, Director Jill S. Ruckelshaus sold 6,180 shares of the stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $166.03, for a total value of $1,026,065.40. Following the completion of the transaction, the director now directly owns 26,008 shares in the company, valued at $4,318,108.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Meisenbach sold 5,737 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $167.74, for a total transaction of $962,324.38. Following the completion of the transaction, the director now owns 4,652 shares of the company’s stock, valued at $780,326.48. The disclosure for this sale can be found here.
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
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