Costco Wholesale Co. (NASDAQ:COST) declared a quarterly dividend on Wednesday, October 13th, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 0.71%.
Costco Wholesale has increased its dividend payment by 41.0% over the last three years and has increased its dividend every year for the last 1 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%.
COST stock opened at $445.30 on Thursday. The company has a market cap of $196.74 billion, a PE ratio of 41.85, a price-to-earnings-growth ratio of 4.35 and a beta of 0.66. The business has a 50-day simple moving average of $453.08 and a 200 day simple moving average of $410.08. Costco Wholesale has a 52 week low of $307.00 and a 52 week high of $470.49. The company has a quick ratio of 0.50, a current ratio of 1.00 and a debt-to-equity ratio of 0.44.
COST has been the subject of a number of analyst reports. Raymond James boosted their price target on Costco Wholesale from $460.00 to $490.00 and gave the company an “outperform” rating in a research note on Friday, September 24th. Zacks Investment Research upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a research report on Monday, September 6th. Credit Suisse Group lifted their target price on Costco Wholesale from $400.00 to $490.00 and gave the company a “neutral” rating in a research report on Monday, September 27th. Morgan Stanley lifted their target price on Costco Wholesale from $500.00 to $510.00 and gave the company an “overweight” rating in a research report on Friday, September 24th. Finally, Wells Fargo & Company lifted their target price on Costco Wholesale from $415.00 to $480.00 and gave the company an “overweight” rating in a research report on Thursday, August 5th. Seven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Buy” and a consensus target price of $469.83.
In other news, VP Joseph P. Portera sold 3,287 shares of the company’s stock in a transaction that occurred on Friday, August 13th. The stock was sold at an average price of $445.50, for a total transaction of $1,464,358.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Costco Wholesale stock. Morgan Stanley increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,185,105 shares of the retailer’s stock after buying an additional 91,694 shares during the quarter. Morgan Stanley owned 1.40% of Costco Wholesale worth $2,447,261,000 at the end of the most recent quarter. Institutional investors own 66.96% of the company’s stock.
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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