Shares of Costco Wholesale Corporation (NASDAQ:COST – Get Free Report) fell 2.1% during trading on Wednesday . The company traded as low as $961.16 and last traded at $965.59. 1,883,612 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 2,157,566 shares. The stock had previously closed at $986.68.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on COST. DA Davidson reiterated a “neutral” rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Costco Wholesale from $1,104.00 to $1,106.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wells Fargo & Company boosted their price objective on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Thursday, April 9th. Sanford C. Bernstein boosted their price objective on shares of Costco Wholesale from $1,192.00 to $1,194.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Finally, Weiss Ratings upgraded shares of Costco Wholesale from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 4th. Twenty-two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,060.41.
View Our Latest Report on Costco Wholesale
Costco Wholesale Trading Down 2.1%
Costco Wholesale (NASDAQ:COST – Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 earnings per share for the quarter, missing the consensus estimate of $4.94 by ($0.01). The business had revenue of $70.53 billion for the quarter, compared to analyst estimates of $70.12 billion. Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.During the same quarter last year, the company earned $4.28 EPS. Equities analysts anticipate that Costco Wholesale Corporation will post 20.38 EPS for the current year.
Costco Wholesale Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 0.6%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.30. The ex-dividend date was Friday, May 1st. Costco Wholesale’s dividend payout ratio (DPR) is currently 29.58%.
Institutional Investors Weigh In On Costco Wholesale
Institutional investors and hedge funds have recently bought and sold shares of the business. FORA Capital LLC bought a new position in shares of Costco Wholesale in the third quarter valued at approximately $2,781,000. World Investment Advisors boosted its holdings in shares of Costco Wholesale by 8.4% in the fourth quarter. World Investment Advisors now owns 20,081 shares of the retailer’s stock valued at $15,835,000 after acquiring an additional 1,560 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Costco Wholesale by 24.5% in the fourth quarter. Teacher Retirement System of Texas now owns 140,429 shares of the retailer’s stock valued at $121,098,000 after acquiring an additional 27,625 shares in the last quarter. Curtis Advisory Group LLC boosted its holdings in shares of Costco Wholesale by 56.7% in the fourth quarter. Curtis Advisory Group LLC now owns 4,535 shares of the retailer’s stock valued at $3,911,000 after acquiring an additional 1,641 shares in the last quarter. Finally, Mariner LLC boosted its holdings in shares of Costco Wholesale by 1.5% in the third quarter. Mariner LLC now owns 399,894 shares of the retailer’s stock valued at $370,140,000 after acquiring an additional 5,937 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.
Costco Wholesale Company Profile
Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company’s product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco’s business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.
Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.
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