Costco Wholesale Co. (NASDAQ:COST) to Issue $1.02 Quarterly Dividend

Costco Wholesale Co. (NASDAQ:COSTGet Free Report) declared a quarterly dividend on Thursday, January 18th, RTT News reports. Investors of record on Friday, February 2nd will be given a dividend of 1.02 per share by the retailer on Friday, February 16th. This represents a $4.08 annualized dividend and a yield of 0.58%. The ex-dividend date is Thursday, February 1st.

Costco Wholesale has raised its dividend by an average of 12.9% per year over the last three years and has increased its dividend annually for the last 20 consecutive years. Costco Wholesale has a dividend payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Costco Wholesale to earn $17.10 per share next year, which means the company should continue to be able to cover its $4.08 annual dividend with an expected future payout ratio of 23.9%.

Costco Wholesale Stock Up 1.0 %

COST opened at $700.74 on Wednesday. The company has a 50 day moving average of $650.49 and a 200 day moving average of $591.35. The company has a market cap of $310.94 billion, a PE ratio of 47.77, a price-to-earnings-growth ratio of 5.01 and a beta of 0.76. Costco Wholesale has a 12 month low of $465.33 and a 12 month high of $702.65. The company has a current ratio of 1.09, a quick ratio of 0.60 and a debt-to-equity ratio of 0.22.

Costco Wholesale (NASDAQ:COSTGet Free Report) last posted its earnings results on Thursday, December 14th. The retailer reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.07. Costco Wholesale had a net margin of 2.65% and a return on equity of 27.44%. The business had revenue of $57.80 billion for the quarter, compared to analysts’ expectations of $57.79 billion. During the same period in the prior year, the company posted $3.10 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts expect that Costco Wholesale will post 15.6 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on COST. Oppenheimer increased their target price on shares of Costco Wholesale from $675.00 to $695.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. JPMorgan Chase & Co. lowered their target price on shares of Costco Wholesale from $620.00 to $605.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. BMO Capital Markets increased their target price on shares of Costco Wholesale from $612.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, December 15th. Wells Fargo & Company increased their target price on shares of Costco Wholesale from $510.00 to $525.00 in a research note on Thursday, October 5th. Finally, StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $638.96.

View Our Latest Analysis on Costco Wholesale

Insiders Place Their Bets

In other Costco Wholesale news, EVP Caton Frates sold 740 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total value of $505,790.00. Following the sale, the executive vice president now owns 6,721 shares of the company’s stock, valued at approximately $4,593,803.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director W Craig Jelinek sold 8,000 shares of Costco Wholesale stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $685.93, for a total transaction of $5,487,440.00. Following the sale, the director now owns 216,212 shares of the company’s stock, valued at approximately $148,306,297.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Caton Frates sold 740 shares of Costco Wholesale stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total transaction of $505,790.00. Following the sale, the executive vice president now directly owns 6,721 shares in the company, valued at approximately $4,593,803.50. The disclosure for this sale can be found here. Insiders have sold a total of 23,252 shares of company stock valued at $14,733,084 in the last quarter. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

Large investors have recently modified their holdings of the stock. Retirement Group LLC boosted its stake in shares of Costco Wholesale by 19.4% during the 2nd quarter. Retirement Group LLC now owns 296 shares of the retailer’s stock valued at $160,000 after purchasing an additional 48 shares in the last quarter. KB Financial Partners LLC bought a new stake in Costco Wholesale during the first quarter worth about $159,000. IMA Wealth Inc. boosted its stake in Costco Wholesale by 41.7% during the second quarter. IMA Wealth Inc. now owns 272 shares of the retailer’s stock worth $146,000 after acquiring an additional 80 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Costco Wholesale during the fourth quarter worth about $142,000. Finally, Covestor Ltd boosted its stake in Costco Wholesale by 87.1% during the first quarter. Covestor Ltd now owns 232 shares of the retailer’s stock worth $134,000 after acquiring an additional 108 shares in the last quarter. Institutional investors own 66.31% of the company’s stock.

About Costco Wholesale

(Get Free Report)

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

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Dividend History for Costco Wholesale (NASDAQ:COST)

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