Costco Wholesale Corporation (COST) to Distribute Quarterly Dividend of $1.47 on August 7th

Costco Wholesale Corporation (NASDAQ:COST) announced a quarterly dividend on Wednesday, July 8th. Stockholders of record on Friday, July 24th will be given a dividend of 1.47 per share by the retailer on Friday, August 7th. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, July 24th.

Costco Wholesale has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 22 years. Costco Wholesale has a payout ratio of 29.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Costco Wholesale to earn $22.50 per share next year, which means the company should continue to be able to cover its $5.88 annual dividend with an expected future payout ratio of 26.1%.

Costco Wholesale Stock Performance

NASDAQ COST opened at $929.22 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. Costco Wholesale has a 52-week low of $844.06 and a 52-week high of $1,096.50. The business’s 50-day moving average price is $972.60 and its 200 day moving average price is $979.28. The firm has a market cap of $412.09 billion, a P/E ratio of 46.74, a P/E/G ratio of 4.52 and a beta of 0.88.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 earnings per share for the quarter, missing analysts’ consensus estimates of $4.94 by ($0.01). Costco Wholesale had a net margin of 3.01% and a return on equity of 28.04%. The firm had revenue of $70.53 billion during the quarter, compared to analysts’ expectations of $70.12 billion. During the same quarter last year, the business earned $4.28 earnings per share. On average, equities research analysts expect that Costco Wholesale will post 20.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on COST. Sanford C. Bernstein boosted their target price on Costco Wholesale from $1,192.00 to $1,194.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Royal Bank Of Canada started coverage on shares of Costco Wholesale in a report on Monday, July 13th. They issued a “sector perform” rating and a $1,000.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Costco Wholesale from $1,110.00 to $1,100.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Mizuho set a $1,100.00 price objective on Costco Wholesale in a report on Monday, June 1st. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Costco Wholesale in a research note on Monday, June 1st. Twenty-two research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $1,059.07.

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.