Shares of Costco Wholesale Co. (NASDAQ:COST) reached a new 52-week high on Wednesday . The stock traded as high as $250.90 and last traded at $249.95, with a volume of 9116 shares traded. The stock had previously closed at $249.93.
Several analysts recently weighed in on the company. Nomura assumed coverage on Costco Wholesale in a research note on Wednesday, March 20th. They issued a “neutral” rating and a $230.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Costco Wholesale to $248.00 and gave the stock an “overweight” rating in a research note on Friday, March 8th. Deutsche Bank set a $225.00 price target on Costco Wholesale and gave the stock a “hold” rating in a research note on Friday, March 8th. Zacks Investment Research downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Robert W. Baird upped their price target on Costco Wholesale from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $249.90.
The stock has a market cap of $109.94 billion, a PE ratio of 36.39, a P/E/G ratio of 3.52 and a beta of 0.94. The company has a quick ratio of 0.46, a current ratio of 0.96 and a debt-to-equity ratio of 0.34.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a $0.65 dividend. The ex-dividend date is Thursday, May 9th. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 1.05%. Costco Wholesale’s dividend payout ratio is 38.07%.
Costco Wholesale declared that its board has initiated a stock repurchase plan on Friday, April 26th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the retailer to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other news, VP Richard A. Galanti sold 4,188 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $230.47, for a total transaction of $965,208.36. Following the transaction, the vice president now directly owns 30,082 shares of the company’s stock, valued at approximately $6,932,998.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan L. Decker sold 2,049 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $232.00, for a total value of $475,368.00. Following the transaction, the director now directly owns 48,589 shares in the company, valued at $11,272,648. The disclosure for this sale can be found here. Insiders sold a total of 8,587 shares of company stock worth $2,004,576 over the last ninety days. 0.21% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ocean Capital Management LLC lifted its holdings in shares of Costco Wholesale by 1.2% during the 1st quarter. Ocean Capital Management LLC now owns 51,059 shares of the retailer’s stock valued at $12,363,000 after buying an additional 607 shares during the period. Diversified Trust Co lifted its holdings in shares of Costco Wholesale by 2.6% during the 1st quarter. Diversified Trust Co now owns 2,152 shares of the retailer’s stock valued at $521,000 after buying an additional 54 shares during the period. Advisory Services Network LLC increased its stake in shares of Costco Wholesale by 20.2% in the 1st quarter. Advisory Services Network LLC now owns 18,982 shares of the retailer’s stock worth $4,597,000 after purchasing an additional 3,191 shares in the last quarter. B. Riley Wealth Management Inc. increased its stake in shares of Costco Wholesale by 8.1% in the 1st quarter. B. Riley Wealth Management Inc. now owns 4,560 shares of the retailer’s stock worth $1,104,000 after purchasing an additional 342 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of Costco Wholesale in the 1st quarter worth $223,000. 71.32% of the stock is currently owned by hedge funds and other institutional investors.
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Costco Wholesale Company Profile (NASDAQ:COST)
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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