Costco Wholesale Co. (NASDAQ:COST) Plans Quarterly Dividend of $1.16

Costco Wholesale Co. (NASDAQ:COSTGet Free Report) announced a quarterly dividend on Wednesday, July 10th, RTT News reports. Stockholders of record on Friday, July 26th will be given a dividend of 1.16 per share by the retailer on Friday, August 9th. This represents a $4.64 annualized dividend and a dividend yield of 0.52%.

Costco Wholesale has increased its dividend payment by an average of 12.9% per year over the last three years and has increased its dividend every year for the last 21 years. Costco Wholesale has a payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Costco Wholesale to earn $17.58 per share next year, which means the company should continue to be able to cover its $4.64 annual dividend with an expected future payout ratio of 26.4%.

Costco Wholesale Trading Down 0.3 %

Shares of NASDAQ COST traded down $2.54 during mid-day trading on Wednesday, reaching $884.31. The company had a trading volume of 1,740,527 shares, compared to its average volume of 1,954,451. Costco Wholesale has a 52 week low of $526.15 and a 52 week high of $896.67. The business’s 50-day moving average is $822.38 and its 200-day moving average is $750.76. The stock has a market cap of $392.04 billion, a price-to-earnings ratio of 54.68, a price-to-earnings-growth ratio of 5.82 and a beta of 0.78. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27.

Costco Wholesale (NASDAQ:COSTGet Free Report) last issued its earnings results on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.70 by $0.08. The business had revenue of $58.52 billion for the quarter, compared to analyst estimates of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $3.43 earnings per share. Equities analysts expect that Costco Wholesale will post 15.98 earnings per share for the current year.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total transaction of $567,445.10. Following the sale, the executive vice president now owns 10,000 shares in the company, valued at approximately $7,228,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the subject of several research reports. DA Davidson reiterated a “neutral” rating and issued a $680.00 target price on shares of Costco Wholesale in a report on Thursday, April 11th. Argus upped their price objective on shares of Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Gordon Haskett downgraded shares of Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 target price on the stock. in a research report on Wednesday, April 3rd. Telsey Advisory Group restated an “outperform” rating and issued a $900.00 price target on shares of Costco Wholesale in a report on Monday. Finally, Tigress Financial increased their price objective on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $766.73.

View Our Latest Report on COST

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.

Further Reading

Dividend History for Costco Wholesale (NASDAQ:COST)

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