Costco Wholesale (NASDAQ:COST) Trading Up 1.1%

Costco Wholesale Co. (NASDAQ:COST)’s share price rose 1.1% during trading on Thursday . The company traded as high as $880.33 and last traded at $871.81. Approximately 451,389 shares were traded during trading, a decline of 77% from the average daily volume of 1,981,144 shares. The stock had previously closed at $862.71.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Monday. Tigress Financial increased their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Roth Mkm restated a “neutral” rating and set a $676.00 price target (up from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Bank of America upped their price objective on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a report on Sunday, June 2nd. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $824.50.

Costco Wholesale Trading Up 1.7 %

The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average is $847.25 and its 200 day moving average is $780.08. The stock has a market cap of $388.96 billion, a PE ratio of 54.02, a P/E/G ratio of 5.73 and a beta of 0.78.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The business had revenue of $58.52 billion during the quarter, compared to analysts’ expectations of $58.16 billion. During the same quarter last year, the business posted $3.43 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts predict that Costco Wholesale Co. will post 15.98 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were given a $1.16 dividend. The ex-dividend date was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.53%. Costco Wholesale’s dividend payout ratio is presently 28.75%.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $848.53, for a total value of $1,272,795.00. Following the transaction, the insider now directly owns 10,992 shares in the company, valued at approximately $9,327,041.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $848.53, for a total value of $1,272,795.00. Following the completion of the transaction, the insider now directly owns 10,992 shares in the company, valued at $9,327,041.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the sale, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,350 shares of company stock valued at $2,837,131. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Costco Wholesale

Institutional investors have recently bought and sold shares of the stock. Frank Rimerman Advisors LLC acquired a new stake in Costco Wholesale during the fourth quarter worth about $26,000. Wetzel Investment Advisors Inc. purchased a new position in Costco Wholesale in the fourth quarter valued at approximately $30,000. Redmont Wealth Advisors LLC acquired a new position in Costco Wholesale during the first quarter valued at approximately $32,000. Vima LLC purchased a new stake in Costco Wholesale during the fourth quarter worth approximately $34,000. Finally, DSM Capital Partners LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter worth $36,000. 68.48% of the stock is currently 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.