Costco Wholesale (NASDAQ:COST) Stock Price Up 0.4% – Here’s Why

Costco Wholesale Co. (NASDAQ:COST)’s stock price traded up 0.4% during trading on Monday . The company traded as high as $883.64 and last traded at $880.55. 318,966 shares traded hands during trading, a decline of 83% from the average session volume of 1,915,339 shares. The stock had previously closed at $877.31.

Analysts Set New Price Targets

COST has been the subject of several recent research reports. Stifel Nicolaus raised their price target on shares of Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Truist Financial cut shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective on the stock. in a report on Tuesday, September 24th. Sanford C. Bernstein initiated coverage on Costco Wholesale in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 target price for the company. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a research report on Thursday, August 8th. Finally, Barclays lifted their target price on Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $905.30.

Costco Wholesale Trading Up 0.9 %

The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $392.09 billion, a price-to-earnings ratio of 53.33, a price-to-earnings-growth ratio of 5.38 and a beta of 0.80. The firm’s 50 day moving average is $892.20 and its 200 day moving average is $845.83.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter in the previous year, the business posted $4.86 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $1.16 dividend. The ex-dividend date is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total transaction of $431,940.00. Following the completion of the sale, the executive vice president now owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total transaction of $431,940.00. Following the sale, the executive vice president now owns 23,800 shares in the company, valued at approximately $20,560,344. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Susan L. Decker sold 620 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the sale, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,636 shares of company stock valued at $11,238,510. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

A number of institutional investors and hedge funds have recently bought and sold shares of the company. 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 valued at $39,000 after buying an additional 39 shares during the period. Bank & Trust Co bought a new position in Costco Wholesale during the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. boosted its holdings in Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Costco Wholesale in the second quarter valued at approximately $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Costco Wholesale during the third quarter worth about $58,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

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.