Costco Wholesale (NASDAQ:COST) Shares Down 0.4%

Costco Wholesale Co. (NASDAQ:COST)’s share price dropped 0.4% during mid-day trading on Friday . The stock traded as low as $855.09 and last traded at $858.75. Approximately 1,224,202 shares traded hands during trading, a decline of 38% from the average daily volume of 1,963,146 shares. The stock had previously closed at $862.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Oppenheimer lifted their target price on shares of Costco Wholesale from $850.00 to $905.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Stifel Nicolaus upped their price objective on Costco Wholesale from $800.00 to $850.00 and gave the company a “buy” rating in a report on Friday, May 31st. Loop Capital raised their target price on Costco Wholesale from $890.00 to $940.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Gordon Haskett lowered Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 price target on the stock. in a research note on Wednesday, April 3rd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $875.00 price target (up from $800.00) on shares of Costco Wholesale in a report on Friday, May 31st. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $752.96.

Costco Wholesale Price Performance

The stock’s 50 day moving average is $788.13 and its two-hundred day moving average is $731.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. The stock has a market capitalization of $376.08 billion, a PE ratio of 52.56, a price-to-earnings-growth ratio of 5.70 and a beta of 0.79.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data 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. The business had revenue of $58.52 billion for the quarter, compared to analyst estimates of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the business earned $3.43 EPS. As a group, sell-side analysts forecast that Costco Wholesale Co. will post 15.98 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were given 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 0.55%. The ex-dividend date was Thursday, April 25th. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at $7,228,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

Several large investors have recently bought and sold shares of COST. Richelieu Gestion SA purchased a new position in Costco Wholesale during the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC purchased a new position in shares of Costco Wholesale during the fourth quarter worth approximately $26,000. Morton Brown Family Wealth LLC increased its holdings in shares of Costco Wholesale by 200.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after acquiring an additional 30 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in Costco Wholesale in the 4th quarter valued at $30,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Costco Wholesale during the 1st quarter worth $32,000. 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.