Costco Wholesale Corp. Announces Quarterly Dividend of $0.45 (COST)
Costco Wholesale Corp. (NASDAQ:COST) announced a quarterly dividend on Wednesday, October 12th. Investors of record on Friday, November 4th will be given a dividend of 0.45 per share by the retailer on Friday, November 18th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.20%.
Shares of Costco Wholesale Corp. (NASDAQ:COST) opened at 150.46 on Thursday. The company has a 50 day moving average price of $154.02 and a 200-day moving average price of $156.14. The stock has a market capitalization of $65.83 billion, a P/E ratio of 28.23 and a beta of 0.71. Costco Wholesale Corp. has a 1-year low of $138.57 and a 1-year high of $169.73.
Costco Wholesale Corp. (NASDAQ:COST) last released its earnings results on Thursday, September 29th. The retailer reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.04. Costco Wholesale Corp. had a return on equity of 20.26% and a net margin of 1.98%. The company had revenue of $35.73 billion for the quarter. During the same period in the prior year, the business earned $1.73 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that Costco Wholesale Corp. will post $5.95 EPS for the current fiscal year.
In related news, Director James D. Sinegal sold 20,114 shares of the stock in a transaction on Friday, October 7th. The stock was sold at an average price of $149.02, for a total transaction of $2,997,388.28. Following the completion of the sale, the director now directly owns 768,136 shares in the company, valued at $114,467,626.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John W. Meisenbach sold 5,737 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $167.74, for a total value of $962,324.38. Following the sale, the director now owns 4,652 shares of the company’s stock, valued at $780,326.48. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.
Several hedge funds have recently made changes to their positions in COST. Montgomery Investment Management Inc. bought a new position in Costco Wholesale Corp. during the second quarter valued at $236,000. Mycio Wealth Partners LLC raised its position in Costco Wholesale Corp. by 34.1% in the second quarter. Mycio Wealth Partners LLC now owns 1,513 shares of the retailer’s stock valued at $238,000 after buying an additional 385 shares during the period. Ingalls & Snyder LLC bought a new position in Costco Wholesale Corp. during the second quarter valued at $266,000. RiverPoint Capital Management LLC raised its position in Costco Wholesale Corp. by 3.8% in the second quarter. RiverPoint Capital Management LLC now owns 1,713 shares of the retailer’s stock valued at $269,000 after buying an additional 63 shares during the period. Finally, First Heartland Consultants Inc. raised its position in Costco Wholesale Corp. by 1.7% in the second quarter. First Heartland Consultants Inc. now owns 2,114 shares of the retailer’s stock valued at $332,000 after buying an additional 35 shares during the period. Institutional investors and hedge funds own 73.11% of the company’s stock.
A number of research firms have commented on COST. Deutsche Bank AG reaffirmed a “buy” rating on shares of Costco Wholesale Corp. in a report on Sunday, July 10th. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $175.00 price target on shares of Costco Wholesale Corp. in a research report on Saturday, July 9th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Costco Wholesale Corp. in a research report on Saturday, July 9th. Nomura set a $185.00 price target on Costco Wholesale Corp. and gave the stock a “buy” rating in a research report on Saturday, October 1st. Finally, Cowen and Company set a $170.00 price target on Costco Wholesale Corp. and gave the stock a “buy” rating in a research report on Sunday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $172.74.
Costco Wholesale Corp. Company Profile
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.
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