Costco Wholesale Co. (NASDAQ:COST) declared a quarterly dividend on Wednesday, October 24th, RTT News reports. Shareholders of record on Friday, November 9th will be paid a dividend of 0.57 per share by the retailer on Friday, November 23rd. This represents a $2.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Thursday, November 8th.
Costco Wholesale has increased its dividend payment by an average of 12.4% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Costco Wholesale has a payout ratio of 33.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Costco Wholesale to earn $8.27 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 27.6%.
Shares of COST opened at $230.16 on Friday. The firm has a market capitalization of $100.19 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.92 and a beta of 0.91. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.46 and a current ratio of 1.02. Costco Wholesale has a 52 week low of $163.78 and a 52 week high of $245.16.
COST has been the topic of a number of recent research reports. Wells Fargo & Co increased their price objective on Costco Wholesale from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, July 12th. Gordon Haskett lowered Costco Wholesale from a “buy” rating to an “accumulate” rating in a research report on Wednesday, July 25th. Loop Capital set a $265.00 price objective on Costco Wholesale and gave the company a “buy” rating in a research report on Wednesday, October 10th. Northcoast Research lowered Costco Wholesale from a “buy” rating to a “neutral” rating in a research report on Friday, July 6th. Finally, Stifel Nicolaus increased their price target on Costco Wholesale from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Nine analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $237.94.
In related news, Director Richard M. Libenson sold 2,049 shares of the firm’s stock in a transaction on Thursday, October 25th. The stock was sold at an average price of $224.00, for a total transaction of $458,976.00. Following the sale, the director now owns 3,049 shares of the company’s stock, valued at approximately $682,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider W Craig Jelinek sold 22,500 shares of the firm’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $223.52, for a total value of $5,029,200.00. Following the sale, the insider now directly owns 322,958 shares in the company, valued at approximately $72,187,572.16. The disclosure for this sale can be found here. Insiders have sold a total of 64,312 shares of company stock worth $14,547,272 in the last ninety days. 0.74% of the stock is currently owned by company insiders.
About Costco Wholesale
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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