Shares of Costco Wholesale Co. (NASDAQ:COST - Get Free Report) dropped 0.4% during trading on Wednesday . The stock traded as low as $880.32 and last traded at $883.51. Approximately 306,092 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,919,740 shares. The stock had previously closed at $886.99.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. Melius Research initiated coverage on Costco Wholesale in a report on Monday, September 23rd. They set a "hold" rating and a $950.00 price target for the company. Redburn Atlantic downgraded Costco Wholesale from a "buy" rating to a "neutral" rating and lifted their target price for the company from $860.00 to $890.00 in a research report on Tuesday, September 10th. Robert W. Baird boosted their target price on Costco Wholesale from $850.00 to $975.00 and gave the stock an "outperform" rating in a report on Thursday, July 11th. Tigress Financial reiterated a "buy" rating and issued a $1,065.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein assumed coverage on Costco Wholesale in a research note on Tuesday, October 22nd. They issued an "outperform" rating and a $1,016.00 price target for the company. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $894.57.
Check Out Our Latest Report on Costco Wholesale
Costco Wholesale Price Performance
The stock has a market cap of $389.50 billion, a P/E ratio of 53.05, a price-to-earnings-growth ratio of 5.48 and a beta of 0.80. The business's 50-day simple moving average is $892.30 and its two-hundred day simple moving average is $842.70. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25.
Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion for the quarter, compared to analysts' expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.86 earnings per share. Sell-side analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current year.
Costco Wholesale Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a $1.16 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.53%. Costco Wholesale's dividend payout ratio is 28.00%.
Insiders Place Their Bets
In other news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the transaction, the executive vice president now owns 10,210 shares of the company's stock, valued at $9,155,409.10. 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 the SEC website. In other news, EVP Russell D. Miller sold 4,400 shares of the company's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now directly owns 10,202 shares in the company, valued at $9,091,512.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,636 shares of company stock worth $11,238,510. Company insiders own 0.18% of the company's stock.
Hedge Funds Weigh In On Costco Wholesale
Several institutional investors have recently bought and sold shares of COST. Financial Connections Group Inc. lifted its stake in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer's stock worth $39,000 after purchasing an additional 39 shares during the last quarter. Bank & Trust Co purchased a new stake in Costco Wholesale in the second quarter worth about $48,000. Ruedi Wealth Management Inc. increased its position in Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer's stock valued at $50,000 after purchasing an additional 25 shares during the period. Summit Securities Group LLC bought a new stake in shares of Costco Wholesale in the 2nd quarter valued at about $50,000. Finally, Fairway Wealth LLC increased its holdings in Costco Wholesale by 230.0% during the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer's stock valued at $56,000 after buying an additional 46 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.
About Costco Wholesale
(
Get Free Report)
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.
Further Reading
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