Costco Wholesale (NASDAQ:COST) Shares Up 0.8% Following Dividend Announcement

Costco Wholesale Co. (NASDAQ:COST) shares were up 0.8% during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $731.50 and last traded at $728.58. Approximately 439,249 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 2,110,309 shares. The stock had previously closed at $722.58.

The newly announced dividend which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be paid a dividend of $1.16 per share. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, April 25th. Costco Wholesale’s dividend payout ratio (DPR) is currently 26.68%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COST. StockNews.com cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday. Tigress Financial increased their price objective on Costco Wholesale from $745.00 to $870.00 and gave the company a “buy” rating in a report on Friday, March 15th. DA Davidson reaffirmed a “neutral” rating and set a $680.00 price target on shares of Costco Wholesale in a report on Thursday. Loop Capital cut their price target on Costco Wholesale from $830.00 to $820.00 and set a “buy” rating for the company in a report on Thursday. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $800.00 price target on shares of Costco Wholesale in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average price target of $691.28.

Costco Wholesale Stock Performance

The stock has a 50-day simple moving average of $730.68 and a 200-day simple moving average of $655.35. The stock has a market cap of $324.34 billion, a P/E ratio of 47.83, a PEG ratio of 5.00 and a beta of 0.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.43.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.09. The company had revenue of $58.44 billion for the quarter, compared to analyst estimates of $59.11 billion. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 earnings per share. Research analysts forecast that Costco Wholesale Co. will post 15.81 earnings per share for the current year.

Insider Buying and Selling

In other Costco Wholesale news, VP Yoram Rubanenko sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $680.33, for a total value of $1,700,825.00. Following the transaction, the vice president now directly owns 5,910 shares of the company’s stock, valued at $4,020,750.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Costco Wholesale news, EVP Claudine Adamo sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $714.83, for a total value of $1,072,245.00. Following the transaction, the executive vice president now directly owns 6,695 shares of the company’s stock, valued at $4,785,786.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Yoram Rubanenko sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $680.33, for a total value of $1,700,825.00. Following the completion of the transaction, the vice president now directly owns 5,910 shares in the company, valued at $4,020,750.30. The disclosure for this sale can be found here. Insiders have sold a total of 14,182 shares of company stock valued at $9,809,558 over the last ninety days. 0.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Costco Wholesale

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dynamic Advisor Solutions LLC raised its position in Costco Wholesale by 5.7% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 23,579 shares of the retailer’s stock valued at $17,274,000 after buying an additional 1,278 shares during the last quarter. Northwest Quadrant Wealth Management LLC raised its position in Costco Wholesale by 1.6% in the 1st quarter. Northwest Quadrant Wealth Management LLC now owns 2,634 shares of the retailer’s stock valued at $1,930,000 after buying an additional 42 shares during the last quarter. Gilman Hill Asset Management LLC raised its position in Costco Wholesale by 15.0% in the 1st quarter. Gilman Hill Asset Management LLC now owns 513 shares of the retailer’s stock valued at $376,000 after buying an additional 67 shares during the last quarter. Annex Advisory Services LLC raised its position in Costco Wholesale by 9.7% in the 1st quarter. Annex Advisory Services LLC now owns 37,582 shares of the retailer’s stock valued at $27,534,000 after buying an additional 3,318 shares during the last quarter. Finally, Central Valley Advisors LLC raised its position in Costco Wholesale by 1.3% in the 1st quarter. Central Valley Advisors LLC now owns 3,917 shares of the retailer’s stock valued at $2,868,000 after buying an additional 49 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

About Costco Wholesale

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.