Costco Wholesale (NASDAQ:COST) Stock Price Up 0.1% – Here’s Why

Costco Wholesale Co. (NASDAQ:COST)’s share price shot up 0.1% during trading on Monday . The company traded as high as $895.99 and last traded at $892.18. 228,215 shares were traded during trading, a decline of 88% from the average session volume of 1,926,737 shares. The stock had previously closed at $891.22.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on COST shares. Robert W. Baird upped their price objective on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Evercore ISI upped their price target on shares of Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Melius Research assumed coverage on Costco Wholesale in a research note on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective for the company. The Goldman Sachs Group upped their target price on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Barclays lifted their price target on Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $894.57.

Costco Wholesale Stock Up 0.3 %

The firm has a market capitalization of $395.88 billion, a PE ratio of 53.83, a price-to-earnings-growth ratio of 5.48 and a beta of 0.80. 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 business has a 50-day moving average price of $891.76 and a 200-day moving average price of $840.23.

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

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

Insider Buying and Selling

In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at $20,015,745. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the transaction, the executive vice president now owns 10,202 shares in the company, valued at $9,091,512.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Richard A. Galanti sold 500 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. 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 sold 12,636 shares of company stock valued at $11,238,510. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

Several large investors have recently bought and sold shares of the stock. Redmont Wealth Advisors LLC acquired a new stake in Costco Wholesale in the first quarter valued at approximately $32,000. Financial Connections Group Inc. increased its position in shares of Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the last quarter. Bank & Trust Co acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. lifted its position in shares of Costco Wholesale by 73.5% during the 2nd 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. Finally, Summit Securities Group LLC acquired a new position in shares of Costco Wholesale during the second quarter worth $50,000. Hedge funds and other institutional investors 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.