Costco Wholesale (NASDAQ:COST) Trading 1.1% Higher – Still a Buy?

Shares of Costco Wholesale Co. (NASDAQ:COST) rose 1.1% during trading on Thursday . The stock traded as high as $914.00 and last traded at $909.15. Approximately 487,306 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,915,613 shares. The stock had previously closed at $899.25.

Analyst Ratings Changes

Several research firms recently weighed in on COST. Melius Research initiated coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price for the company. The Goldman Sachs Group lifted their price objective on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Roth Mkm increased their target price on Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. 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. Finally, Evercore ISI increased their price target on shares of Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Ten investment 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 an average rating of “Moderate Buy” and a consensus price target of $905.30.

Costco Wholesale Stock Up 1.7 %

The stock has a market cap of $405.16 billion, a PE ratio of 54.87, a P/E/G ratio of 5.45 and a beta of 0.80. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average of $891.92 and a 200-day moving average of $848.69.

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

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $1.16 per share. The ex-dividend date is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. Costco Wholesale’s payout ratio is 28.00%.

Insider Buying and Selling at Costco Wholesale

In related news, Director Susan L. Decker sold 620 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the sale, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now directly owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,636 shares of company stock valued at $11,238,510. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

Several large investors have recently added to or reduced their stakes in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its position in Costco Wholesale by 62.8% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock worth $2,143,000 after acquiring an additional 932 shares during the period. Cantor Fitzgerald Investment Advisors L.P. raised its position in shares of Costco Wholesale by 66.9% during the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock worth $2,738,000 after buying an additional 1,238 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of Costco Wholesale by 52.1% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock worth $6,499,000 after acquiring an additional 2,620 shares during the period. Patton Fund Management Inc. acquired a new position in shares of Costco Wholesale during the third quarter valued at approximately $6,424,000. Finally, WestHill Financial Advisors Inc. raised its holdings in Costco Wholesale by 328.4% during the third quarter. WestHill Financial Advisors Inc. now owns 1,435 shares of the retailer’s stock worth $1,272,000 after purchasing an additional 1,100 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

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.