Costco Wholesale (NASDAQ:COST) Trading 0.3% Higher – Still a Buy?

Costco Wholesale Co. (NASDAQ:COST)’s stock price traded up 0.3% during mid-day trading on Monday . The company traded as high as $985.30 and last traded at $979.79. 355,046 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 2,027,965 shares. The stock had previously closed at $977.16.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Monday. Truist Financial lifted their price objective on Costco Wholesale from $935.00 to $995.00 and gave the stock a “hold” rating in a report on Friday, March 7th. Loop Capital lowered their price target on Costco Wholesale from $1,150.00 to $1,045.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Evercore ISI upped their price target on shares of Costco Wholesale from $1,050.00 to $1,070.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Finally, Mizuho started coverage on Costco Wholesale in a research report on Friday, April 11th. They set a “neutral” rating and a $975.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus price target of $1,024.03.

Costco Wholesale Stock Performance

The stock has a 50 day simple moving average of $966.46 and a two-hundred day simple moving average of $956.28. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The company has a market cap of $431.85 billion, a PE ratio of 57.15, a PEG ratio of 6.15 and a beta of 0.95.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). The firm had revenue of $63.72 billion for the quarter, compared to analyst estimates of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. Equities analysts predict that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 2nd will be issued a dividend of $1.30 per share. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date is Friday, May 2nd. This represents a $5.20 annualized dividend and a yield of 0.53%. Costco Wholesale’s payout ratio is presently 30.36%.

Insider Buying and Selling at Costco Wholesale

In related news, EVP James C. Klauer sold 4,000 shares of Costco Wholesale stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the completion of the transaction, the executive vice president now directly owns 43,994 shares of the company’s stock, valued at $43,161,193.58. This trade represents a 8.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gary Millerchip sold 1,100 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the completion of the transaction, the executive vice president now owns 11,165 shares of the company’s stock, valued at $10,495,211.65. This trade represents a 8.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,600 shares of company stock valued at $9,140,195. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Costco Wholesale

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale in the 4th quarter valued at about $25,000. Synergy Investment Management LLC bought a new position in shares of Costco Wholesale during the fourth quarter worth approximately $31,000. NewSquare Capital LLC lifted its position in shares of Costco Wholesale by 250.0% during the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock valued at $32,000 after acquiring an additional 25 shares during the period. Endeavor Private Wealth Inc. bought a new stake in Costco Wholesale during the fourth quarter worth about $33,000. Finally, Collier Financial bought a new position in Costco Wholesale in the fourth quarter valued at approximately $35,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

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.