Costco Wholesale (NASDAQ:COST) Shares Up 2.4% - Here's What Happened

Costco Wholesale Co. (NASDAQ:COST - Get Free Report) traded up 2.4% on Tuesday . The stock traded as high as $985.65 and last traded at $980.99. 513,190 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 2,013,729 shares. The stock had previously closed at $957.77.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on COST shares. Barclays increased their price objective on Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Stifel Nicolaus decreased their target price on shares of Costco Wholesale from $1,075.00 to $1,035.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Mizuho initiated coverage on shares of Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Ten 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 stock has an average rating of "Moderate Buy" and an average target price of $1,024.03.

Costco Wholesale Price Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The stock has a market capitalization of $433.55 billion, a P/E ratio of 57.38, a P/E/G ratio of 6.15 and a beta of 0.95. The firm has a fifty day moving average of $966.46 and a two-hundred day moving average of $955.52.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results 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 firm had revenue of $63.72 billion during the quarter, compared to analyst estimates of $63.02 billion. On average, analysts predict that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be given a dividend of $1.30 per share. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. This represents a $5.20 annualized dividend and a yield of 0.53%. The ex-dividend date is Friday, May 2nd. Costco Wholesale's dividend payout ratio (DPR) is currently 30.36%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the completion of the transaction, the chief executive officer now owns 41,077 shares of the company's stock, valued at $38,242,687. This represents a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James C. Klauer sold 4,000 shares of the stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the completion of the sale, the executive vice president now owns 43,994 shares of the company's stock, valued at $43,161,193.58. This trade represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,600 shares of company stock valued at $9,140,195. 0.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Costco Wholesale

A number of institutional investors have recently made changes to their positions in the stock. CHURCHILL MANAGEMENT Corp acquired a new stake in Costco Wholesale in the fourth quarter valued at approximately $8,430,000. GAMMA Investing LLC grew its position in shares of Costco Wholesale by 15.0% during the fourth quarter. GAMMA Investing LLC now owns 7,662 shares of the retailer's stock worth $7,020,000 after acquiring an additional 1,001 shares during the last quarter. Dale Q Rice Investment Management Ltd acquired a new position in Costco Wholesale in the fourth quarter valued at $984,000. Stanich Group LLC purchased a new position in shares of Costco Wholesale during the fourth quarter worth about $214,000. Finally, Everence Capital Management Inc. raised its stake in shares of Costco Wholesale by 15.4% during the fourth quarter. Everence Capital Management Inc. now owns 11,913 shares of the retailer's stock worth $10,916,000 after purchasing an additional 1,590 shares during the last quarter. 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.