Costco Wholesale (NASDAQ:COST) Trading 0.8% Higher – Here’s Why

Costco Wholesale Co. (NASDAQ:COST)’s share price was up 0.8% during trading on Friday . The stock traded as high as $899.81 and last traded at $902.36. Approximately 984,594 shares changed hands during trading, a decline of 46% from the average daily volume of 1,815,138 shares. The stock had previously closed at $895.40.

Analysts Set New Price Targets

A number of research firms recently weighed in on COST. Cowen reiterated a “buy” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Evercore ISI increased their price target on shares of Costco Wholesale from $1,050.00 to $1,070.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Barclays lifted their price objective on Costco Wholesale from $940.00 to $980.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Finally, Morgan Stanley upped their price objective on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,029.00.

Costco Wholesale Stock Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The firm has a market capitalization of $401.52 billion, a price-to-earnings ratio of 53.13, a price-to-earnings-growth ratio of 6.15 and a beta of 0.82. The stock’s fifty day moving average is $988.11 and its two-hundred day moving average is $944.49.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The business had revenue of $63.72 billion for the quarter, compared to analysts’ expectations of $63.02 billion. Analysts forecast that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s payout ratio is 27.09%.

Insider Transactions at Costco Wholesale

In other news, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the transaction, the chief executive officer now owns 41,077 shares of the company’s stock, valued at approximately $38,242,687. This trade represents a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

Institutional investors and hedge funds have recently modified their holdings of the business. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale during the fourth quarter worth about $25,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Costco Wholesale during the 3rd quarter worth approximately $29,000. Synergy Investment Management LLC acquired a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $31,000. NewSquare Capital LLC lifted its holdings in shares of Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after purchasing an additional 25 shares during the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new position in Costco Wholesale during the 4th quarter valued at approximately $33,000. 68.48% of the stock is owned by institutional investors and hedge funds.

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.