Costco Wholesale (NASDAQ:COST) Trading Up 0.4% – Still a Buy?

Costco Wholesale Co. (NASDAQ:COST)’s share price shot up 0.4% during mid-day trading on Monday . The stock traded as high as $883.64 and last traded at $880.55. 318,966 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,915,339 shares. The stock had previously closed at $877.31.

Wall Street Analyst Weigh In

COST has been the topic of several analyst reports. Barclays increased their target price on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Loop Capital lifted their price objective on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Redburn Atlantic cut Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. TD Cowen boosted their price objective on shares of Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Melius Research began coverage on shares of Costco Wholesale in a research report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $905.30.

Costco Wholesale Trading Up 0.9 %

The business has a fifty day moving average of $892.20 and a 200-day moving average of $845.83. The company has a market capitalization of $392.09 billion, a P/E ratio of 53.33, a PEG ratio of 5.38 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. Costco Wholesale’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.86 EPS. Analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.52%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Insider Buying and Selling

In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the transaction, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total transaction of $431,940.00. Following the completion of the transaction, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the sale, the executive vice president now directly owns 27,400 shares in the company, valued at $24,514,232. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,636 shares of company stock worth $11,238,510 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Financial Connections Group Inc. raised its position in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares in the last quarter. Bank & Trust Co acquired a new position in shares of Costco Wholesale in the 2nd quarter valued at about $48,000. Ruedi Wealth Management Inc. lifted its holdings in Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after acquiring an additional 25 shares during the period. Summit Securities Group LLC purchased a new stake in Costco Wholesale during the second quarter worth $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Costco Wholesale during the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Company Profile

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.