Costco Wholesale (NASDAQ:COST) Trading Up 1.5% - Here's What Happened

Key Points

• Costco Wholesale stock recently saw a 1.5% increase in trading, closing at $941.48, despite a decline in trading volume of 64% compared to its average.
• Analysts have a consensus rating of "Moderate Buy" for Costco, with a price target near $1,037.48, indicating positive sentiment and strong expectations for future growth.
• The company declared a quarterly dividend of $1.30 per share, with the dividend yield at 0.6%, signaling continued commitment to returning value to its shareholders.

Costco Wholesale Corporation (NASDAQ:COST - Get Free Report) was up 1.5% during trading on Thursday . The stock traded as high as $945.95 and last traded at $941.48. Approximately 790,155 shares were traded during trading, a decline of 64% from the average daily volume of 2,199,455 shares. The stock had previously closed at $927.51.

Analyst Ratings Changes

Several brokerages recently issued reports on COST. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a report on Friday, April 4th. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research note on Thursday, May 29th. Truist Financial raised their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Loop Capital dropped their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Finally, Mizuho initiated coverage on shares of Costco Wholesale in a research note on Friday, April 11th. They issued a "neutral" rating and a $975.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,037.48.

Costco Wholesale Trading Up 1.6%

The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $984.46 and a 200 day simple moving average of $983.58. The company has a market cap of $422.76 billion, a price-to-earnings ratio of 54.08, a P/E/G ratio of 5.77 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. The business had revenue of $63.21 billion during the quarter, compared to analysts' expectations of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $3.78 earnings per share. On average, equities analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a $1.30 dividend. The ex-dividend date is Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.5%. Costco Wholesale's payout ratio is 29.50%.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the sale, the executive vice president owned 58,543 shares in the company, valued at $58,705,164.11. The trade was a 4.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the transaction, the director directly owned 11,531 shares in the company, valued at $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock worth $9,472,510 over the last 90 days. Corporate insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Costco Wholesale

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Investment Management Corp VA ADV acquired a new position in shares of Costco Wholesale in the 4th quarter valued at approximately $25,000. Bulwark Capital Corp acquired a new position in shares of Costco Wholesale in the 2nd quarter valued at approximately $25,000. Anderson Financial Strategies LLC raised its position in shares of Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after purchasing an additional 36 shares in the last quarter. Financial Connections Group Inc. raised its position in shares of Costco Wholesale by 975.0% in the 2nd quarter. Financial Connections Group Inc. now owns 43 shares of the retailer's stock valued at $42,000 after purchasing an additional 39 shares in the last quarter. Finally, Frazier Financial Advisors LLC raised its position in shares of Costco Wholesale by 72.0% in the 2nd quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer's stock valued at $43,000 after purchasing an additional 18 shares in the last quarter. 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.