Costco Wholesale Co. (NASDAQ:COST) announced a quarterly dividend on Tuesday, April 24th, RTT News reports. Stockholders of record on Friday, May 11th will be given a dividend of 0.57 per share by the retailer on Friday, May 25th. This represents a $2.28 annualized dividend and a dividend yield of 1.19%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.50.
Costco Wholesale has raised its dividend by an average of 12.4% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Costco Wholesale has a payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Costco Wholesale to earn $7.67 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 26.1%.
Shares of NASDAQ:COST traded down $0.73 during trading on Wednesday, hitting $191.78. The company had a trading volume of 82,861 shares, compared to its average volume of 2,480,604. The firm has a market capitalization of $84,845.91, a price-to-earnings ratio of 33.08, a PEG ratio of 2.73 and a beta of 0.96. Costco Wholesale has a one year low of $150.00 and a one year high of $199.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.44.
Several equities research analysts have recently issued reports on the company. Wells Fargo raised Costco Wholesale from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $191.42 to $188.91 in a research note on Monday, April 16th. BidaskClub raised Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 28th. Royal Bank of Canada reissued an “outperform” rating and set a $205.00 price target (down from $209.00) on shares of Costco Wholesale in a research note on Thursday, March 8th. Vetr lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $195.68 price target for the company. in a research note on Tuesday, February 20th. Finally, Argus raised their price target on Costco Wholesale to $200.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $192.14.
In other Costco Wholesale news, VP Timothy L. Rose sold 12,000 shares of the firm’s stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $184.46, for a total transaction of $2,213,520.00. Following the transaction, the vice president now directly owns 22,903 shares in the company, valued at approximately $4,224,687.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Timothy L. Rose sold 17,000 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $185.33, for a total value of $3,150,610.00. Following the transaction, the vice president now owns 34,903 shares in the company, valued at $6,468,572.99. The disclosure for this sale can be found here. Insiders have sold a total of 62,067 shares of company stock worth $11,690,902 over the last 90 days. 0.58% of the stock is currently owned by company insiders.
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Costco Wholesale Company Profile
Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.
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