Costco Wholesale (NASDAQ:COST) Shares Up 0.6% – Here’s What Happened

Costco Wholesale Co. (NASDAQ:COST)’s share price shot up 0.6% on Friday . The company traded as high as $895.57 and last traded at $895.88. 911,906 shares traded hands during trading, a decline of 50% from the average session volume of 1,810,755 shares. The stock had previously closed at $890.62.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COST. Jefferies Financial Group increased their target price on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Barclays increased their target price on shares of Costco Wholesale from $940.00 to $980.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Raymond James increased their target price on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Robert W. Baird raised their price objective on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an “outperform” rating in a report on Friday, March 7th. Finally, Citigroup raised their price objective on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,030.43.

Costco Wholesale Stock Performance

The company’s 50-day moving average price is $989.80 and its two-hundred day moving average price is $944.47. 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 stock has a market cap of $401.25 billion, a PE ratio of 53.08, a PEG ratio of 6.15 and a beta of 0.81.

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

Costco Wholesale Announces Dividend

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

Insider Activity at Costco Wholesale

In related news, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction on 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Costco Wholesale

Large investors have recently added to or reduced their stakes in the company. Investment Management Corp VA ADV bought a new stake in Costco Wholesale in the 4th quarter worth $25,000. RPg Family Wealth Advisory LLC bought a new stake in Costco Wholesale in the 3rd quarter worth $29,000. Synergy Investment Management LLC bought a new stake in Costco Wholesale in the 4th quarter worth $31,000. NewSquare Capital LLC grew its holdings in 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 acquiring an additional 25 shares during the last quarter. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of Costco Wholesale during the 4th quarter valued at about $33,000. 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.