Costco Wholesale (NASDAQ:COST) Shares Up 1.2% – What’s Next?

Costco Wholesale Corporation (NASDAQ:COSTGet Free Report) traded up 1.2% during trading on Friday . The company traded as high as $953.73 and last traded at $945.47. Approximately 1,394,023 shares traded hands during trading, a decline of 36% from the average daily volume of 2,179,721 shares. The stock had previously closed at $934.66.

More Costco Wholesale News

Here are the key news stories impacting Costco Wholesale this week:

Analyst Ratings Changes

A number of equities analysts have weighed in on COST shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,120.00 price objective on shares of Costco Wholesale in a research report on Thursday, August 6th. Sanford C. Bernstein lifted their price objective on Costco Wholesale from $1,192.00 to $1,194.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Truist Financial raised their price objective on shares of Costco Wholesale from $977.00 to $1,011.00 and gave the stock a “hold” rating in a report on Friday, May 29th. HC Wainwright reaffirmed a “buy” rating on shares of Costco Wholesale in a research report on Monday, June 1st. Finally, Royal Bank Of Canada assumed coverage on Costco Wholesale in a research note on Monday, July 13th. They issued a “sector perform” rating and a $1,000.00 price target for the company. Twenty-two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $1,059.53.

Check Out Our Latest Research Report on Costco Wholesale

Costco Wholesale Stock Performance

The company has a market capitalization of $419.30 billion, a price-to-earnings ratio of 47.56, a P/E/G ratio of 4.55 and a beta of 0.87. The stock has a 50 day simple moving average of $945.92 and a 200 day simple moving average of $980.16. 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 (NASDAQ:COSTGet Free Report) last issued its quarterly earnings data on Thursday, May 28th. The retailer reported $4.93 EPS for the quarter, missing analysts’ consensus estimates of $4.94 by ($0.01). Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.The company had revenue of $70.53 billion for the quarter, compared to the consensus estimate of $70.12 billion. During the same quarter in the previous year, the company earned $4.28 earnings per share. As a group, analysts anticipate that Costco Wholesale Corporation will post 20.42 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were given a $1.47 dividend. The ex-dividend date was Friday, July 24th. This represents a $5.88 annualized dividend and a yield of 0.6%. Costco Wholesale’s dividend payout ratio is 29.58%.

Insider Buying and Selling at Costco Wholesale

In other news, Director Kenneth D. Denman sold 885 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total value of $847,343.25. Following the completion of the transaction, the director owned 4,779 shares of the company’s stock, valued at approximately $4,575,653.55. This represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC raised its holdings in Costco Wholesale by 12.3% during the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock worth $18,165,000 after buying an additional 2,172 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Costco Wholesale by 13.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock valued at $1,029,000 after purchasing an additional 130 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Costco Wholesale by 4.5% in the second quarter. Sivia Capital Partners LLC now owns 3,853 shares of the retailer’s stock worth $3,814,000 after purchasing an additional 165 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Costco Wholesale by 1.1% in the second quarter. Pinnacle Wealth Planning Services Inc. now owns 2,110 shares of the retailer’s stock worth $2,089,000 after purchasing an additional 23 shares in the last quarter. Finally, Schnieders Capital Management LLC. grew its position in Costco Wholesale by 2.2% during the second quarter. Schnieders Capital Management LLC. now owns 8,502 shares of the retailer’s stock valued at $8,416,000 after purchasing an additional 182 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Company Profile

(Get Free Report)

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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