Costco Wholesale (NASDAQ:COST) Trading Up 0.8% - Here's What Happened

Costco Wholesale Co. (NASDAQ:COST - Get Free Report) shares traded up 0.8% during mid-day trading on Monday . The stock traded as high as $939.47 and last traded at $936.84. 641,451 shares were traded during mid-day trading, a decline of 67% from the average session volume of 1,936,440 shares. The stock had previously closed at $929.66.

Analyst Ratings Changes

Several analysts have recently commented on the stock. BMO Capital Markets raised their target price 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. Evercore ISI raised their price objective on shares of Costco Wholesale from $1,050.00 to $1,070.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. Morgan Stanley lifted their price objective on Costco Wholesale from $950.00 to $1,150.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Truist Financial increased their target price on Costco Wholesale from $935.00 to $995.00 and gave the stock a "hold" rating in a research note on Friday, March 7th. Finally, Wells Fargo & Company lifted their price target on Costco Wholesale from $950.00 to $1,000.00 and gave the company an "equal weight" rating in a research note on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,029.00.

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Costco Wholesale Stock Performance

The company has a market capitalization of $423.45 billion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 6.15 and a beta of 0.82. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The stock's fifty day simple moving average is $988.26 and its 200-day simple moving average is $947.35.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.09 by ($0.07). The firm had revenue of $63.72 billion for the quarter, compared to analyst estimates of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. As a group, equities analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a $1.16 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.49%. Costco Wholesale's payout ratio is currently 27.09%.

Insider Buying and Selling

In related news, EVP Gary Millerchip sold 1,100 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the completion of the transaction, the executive vice president now owns 11,165 shares of the company's stock, valued at approximately $10,495,211.65. This represents a 8.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Roland Michael Vachris sold 3,600 shares of Costco Wholesale stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the completion of the transaction, the chief executive officer now owns 41,077 shares in the company, valued at approximately $38,242,687. This trade represents a 8.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,600 shares of company stock worth $5,215,915. 0.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Costco Wholesale

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale during the 4th quarter worth approximately $25,000. Synergy Investment Management LLC purchased a new stake in Costco Wholesale during the fourth quarter worth approximately $31,000. NewSquare Capital LLC increased its position in shares of Costco Wholesale by 250.0% in the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock worth $32,000 after acquiring an additional 25 shares in the last quarter. Endeavor Private Wealth Inc. purchased a new position in shares of Costco Wholesale in the 4th quarter valued at $33,000. Finally, Collier Financial acquired a new position in shares of Costco Wholesale during the 4th quarter valued at $35,000. 68.48% of the stock is currently 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.