Costco Wholesale (NASDAQ:COST) Trading Up 1.6% – Here’s What Happened

Costco Wholesale Corporation (NASDAQ:COST) shares were up 1.6% during trading on Monday . The stock traded as high as $996.95 and last traded at $995.66. Approximately 528,734 shares were traded during trading, a decline of 74% from the average daily volume of 2,057,621 shares. The stock had previously closed at $980.29.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Cfra Research raised shares of Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research report on Friday, April 4th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Tuesday, June 3rd. Wall Street Zen upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Mizuho assumed coverage on Costco Wholesale in a research report on Friday, April 11th. They set a “neutral” rating and a $975.00 price target on the stock. Finally, Robert W. Baird upped their price objective on Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,034.79.

Costco Wholesale Trading Up 1.9%

The firm’s 50 day simple moving average is $1,002.94 and its two-hundred day simple moving average is $981.03. The stock has a market capitalization of $442.89 billion, a P/E ratio of 56.66, a P/E/G ratio of 5.79 and a beta of 1.00. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same period in the previous year, the company posted $3.78 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. As a group, analysts forecast that Costco Wholesale Corporation will post 18.03 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 16th. Shareholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 annualized dividend and a yield of 0.52%. Costco Wholesale’s dividend payout ratio is presently 29.50%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 547 shares of the company’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the transaction, the director now owns 11,531 shares in the company, valued at $11,300,380. This represents a 4.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gary Millerchip sold 1,100 shares of Costco Wholesale stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $940.01, for a total value of $1,034,011.00. Following the sale, the executive vice president now owns 11,165 shares in the company, valued at $10,495,211.65. The trade was a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,647 shares of company stock valued at $10,530,961 over the last ninety days. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Costco Wholesale

Several institutional investors have recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new position in shares of Costco Wholesale in the fourth quarter valued at $25,000. Synergy Investment Management LLC bought a new stake in shares of Costco Wholesale during the fourth quarter valued at about $31,000. NewSquare Capital LLC boosted its position in shares of Costco Wholesale by 250.0% in the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock valued at $32,000 after acquiring an additional 25 shares during the period. Anderson Financial Strategies LLC grew its stake in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after acquiring an additional 36 shares in the last quarter. Finally, eCIO Inc. bought a new stake in Costco Wholesale during the 1st quarter worth approximately $48,000. Hedge funds and other 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.