Costco Wholesale (NASDAQ:COST) Stock Price Up 0.1% After Dividend Announcement

Shares of Costco Wholesale Co. (NASDAQ:COST) rose 0.1% during trading on Friday after the company announced a dividend. The company traded as high as $946.04 and last traded at $943.35. Approximately 249,746 shares traded hands during trading, a decline of 86% from the average daily volume of 1,766,128 shares. The stock had previously closed at $942.16.

The newly announced dividend which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.49%. Costco Wholesale’s dividend payout ratio is currently 27.25%.

Wall Street Analyst Weigh In

Several research firms recently commented on COST. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Thursday, January 9th. The Goldman Sachs Group raised their target price on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Tigress Financial reissued a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a research note on Thursday, October 17th. Morgan Stanley raised their target price on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Stifel Nicolaus raised their target price on Costco Wholesale from $935.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.59.

Costco Wholesale Trading Up 0.0 %

The business has a fifty day simple moving average of $950.92 and a 200 day simple moving average of $903.31. The stock has a market cap of $418.40 billion, a price-to-earnings ratio of 55.39, a PEG ratio of 5.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98.

Institutional Investors Weigh In On Costco Wholesale

Several hedge funds have recently made changes to their positions in COST. RPg Family Wealth Advisory LLC acquired a new stake in shares of Costco Wholesale during the third quarter worth $29,000. Endeavor Private Wealth Inc. purchased a new position in Costco Wholesale in the fourth quarter valued at about $33,000. FSC Wealth Advisors LLC purchased a new position in Costco Wholesale in the fourth quarter valued at about $41,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Costco Wholesale during the fourth quarter worth about $55,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in Costco Wholesale in the third quarter worth about $58,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

About Costco Wholesale

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.