Costco Wholesale (NASDAQ:COST) Shares Up 0.8% – Here’s What Happened

Shares of Costco Wholesale Co. (NASDAQ:COST) were up 0.8% during mid-day trading on Thursday . The stock traded as high as $940.76 and last traded at $937.44. Approximately 384,957 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,818,456 shares. The stock had previously closed at $929.75.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on COST shares. Oppenheimer reaffirmed an “outperform” rating and set a $1,075.00 price objective (up from $980.00) on shares of Costco Wholesale in a research report on Tuesday, December 10th. Morgan Stanley lifted their price objective on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Raymond James lifted their price objective on Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Citigroup increased their price objective on Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Finally, Evercore ISI upped their target price on shares of Costco Wholesale from $1,050.00 to $1,070.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given 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 $1,029.00.

Costco Wholesale Trading Up 1.3 %

The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $417.75 billion, a price-to-earnings ratio of 55.26, a PEG ratio of 6.15 and a beta of 0.82. The firm has a 50-day moving average price of $987.96 and a 200-day moving average price of $946.00.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.09 by ($0.07). The business had revenue of $63.72 billion during the quarter, compared to analyst estimates of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. As a group, sell-side analysts predict that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Friday, February 7th. Costco Wholesale’s dividend payout ratio is presently 27.09%.

Insider Activity

In other news, EVP Claudine Adamo sold 900 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $922.56, for a total transaction of $830,304.00. Following the transaction, the executive vice president now owns 6,987 shares of the company’s stock, valued at approximately $6,445,926.72. This represents a 11.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Roland Michael Vachris sold 3,600 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total value of $3,351,600.00. Following the completion of the sale, 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 disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Costco Wholesale

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

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.