Costco Wholesale Co. (NASDAQ:COST) to Issue Quarterly Dividend of $0.90

Costco Wholesale Co. (NASDAQ:COSTGet Rating) declared a quarterly dividend on Wednesday, April 13th, RTT News reports. Investors of record on Friday, April 29th will be paid a dividend of 0.90 per share by the retailer on Friday, May 13th. This represents a $3.60 annualized dividend and a yield of 0.61%. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.79.

Costco Wholesale has a payout ratio of 22.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Costco Wholesale to earn $14.30 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 22.1%.

COST stock traded up $9.80 during trading on Wednesday, hitting $591.16. The stock had a trading volume of 124,869 shares, compared to its average volume of 2,587,914. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.51 and a current ratio of 1.03. The stock has a market cap of $262.02 billion, a price-to-earnings ratio of 47.32, a price-to-earnings-growth ratio of 5.08 and a beta of 0.68. The company’s 50 day moving average price is $540.80 and its two-hundred day moving average price is $520.86. Costco Wholesale has a 1-year low of $362.55 and a 1-year high of $612.27.

Costco Wholesale (NASDAQ:COSTGet Rating) last posted its quarterly earnings results on Thursday, March 3rd. The retailer reported $2.92 EPS for the quarter, beating the consensus estimate of $2.74 by $0.18. The company had revenue of $51.90 billion during the quarter, compared to analysts’ expectations of $51.51 billion. Costco Wholesale had a return on equity of 30.10% and a net margin of 2.62%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.14 EPS. As a group, sell-side analysts forecast that Costco Wholesale will post 13.01 earnings per share for the current fiscal year.

COST has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Costco Wholesale from $491.00 to $527.00 in a report on Thursday, April 7th. Oppenheimer boosted their target price on Costco Wholesale from $620.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, April 7th. Telsey Advisory Group boosted their target price on Costco Wholesale from $610.00 to $615.00 and gave the stock an “outperform” rating in a report on Friday, March 4th. StockNews.com initiated coverage on Costco Wholesale in a report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Cowen boosted their target price on Costco Wholesale from $520.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, January 6th. Six research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $567.93.

In related news, EVP Claudine Adamo sold 500 shares of the company’s stock in a transaction on Friday, April 8th. The stock was sold at an average price of $602.03, for a total transaction of $301,015.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Timothy L. Rose sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $566.29, for a total value of $2,265,160.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,566 shares of company stock worth $7,051,086. Corporate insiders own 0.22% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley grew its stake in shares of Costco Wholesale by 1.5% in the second quarter. Morgan Stanley now owns 6,185,105 shares of the retailer’s stock worth $2,447,261,000 after purchasing an additional 91,694 shares in the last quarter. Heritage Wealth Advisors grew its stake in shares of Costco Wholesale by 4.6% in the fourth quarter. Heritage Wealth Advisors now owns 2,267 shares of the retailer’s stock worth $1,287,000 after purchasing an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth $389,000. Barclays PLC grew its stake in shares of Costco Wholesale by 47.5% in the fourth quarter. Barclays PLC now owns 1,446,526 shares of the retailer’s stock worth $821,194,000 after purchasing an additional 465,780 shares in the last quarter. Finally, Flow Traders U.S. LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth $299,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.

About Costco Wholesale (Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

Further Reading

Dividend History for Costco Wholesale (NASDAQ:COST)

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