Costco Wholesale Co. (NASDAQ:COST) declared a quarterly dividend on Wednesday, October 13th, RTT News reports. Shareholders of record on Friday, October 29th will be given a dividend of 0.79 per share by the retailer on Friday, November 12th. This represents a $3.16 annualized dividend and a dividend yield of 0.71%.
Costco Wholesale has increased its dividend payment by 41.0% over the last three years and has increased its dividend annually for the last 1 consecutive years. Costco Wholesale has a dividend payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Costco Wholesale to earn $11.50 per share next year, which means the company should continue to be able to cover its $2.98 annual dividend with an expected future payout ratio of 25.9%.
Shares of COST stock opened at $445.30 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.50 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $453.08 and a 200 day moving average price of $410.08. The company has a market cap of $196.74 billion, a P/E ratio of 41.85, a PEG ratio of 4.35 and a beta of 0.66. Costco Wholesale has a 12 month low of $307.00 and a 12 month high of $470.49.
In other news, VP Joseph P. Portera sold 3,287 shares of Costco Wholesale stock in a transaction that occurred on Friday, August 13th. The shares were sold at an average price of $445.50, for a total value of $1,464,358.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.
A hedge fund recently raised its stake in Costco Wholesale stock. Morgan Stanley lifted its position in Costco Wholesale Co. (NASDAQ:COST) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,185,105 shares of the retailer’s stock after acquiring an additional 91,694 shares during the period. Morgan Stanley owned about 1.40% of Costco Wholesale worth $2,447,261,000 as of its most recent SEC filing. Institutional investors own 66.96% of the company’s stock.
Several research firms have issued reports on COST. MKM Partners upped their price objective on shares of Costco Wholesale from $336.00 to $385.00 and gave the company a “neutral” rating in a research note on Friday, July 9th. Morgan Stanley increased their target price on shares of Costco Wholesale from $500.00 to $510.00 and gave the company an “overweight” rating in a report on Friday, September 24th. Citigroup increased their price target on shares of Costco Wholesale from $460.00 to $495.00 and gave the company a “neutral” rating in a research report on Tuesday, September 28th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Costco Wholesale from $424.00 to $468.00 and gave the stock a “hold” rating in a research report on Thursday, October 7th. Finally, Oppenheimer restated a “buy” rating and set a $500.00 target price on shares of Costco Wholesale in a research report on Friday, September 17th. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale has a consensus rating of “Buy” and a consensus price target of $469.83.
About Costco Wholesale
Costco Wholesale Corp. engages in the operation of membership warehouses. Its product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations. The company was founded by James D.
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