Costco Wholesale (COST) to Release Quarterly Earnings on Thursday
Costco Wholesale (NASDAQ:COST) will announce its earnings results after the market closes on Thursday, September 23rd. Analysts expect the company to announce earnings of $3.38 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.
Shares of NASDAQ:COST opened at $460.73 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.50 and a current ratio of 1.00. Costco Wholesale has a 1 year low of $307.00 and a 1 year high of $469.77. The stock has a market capitalization of $203.67 billion, a P/E ratio of 43.30, a PEG ratio of 4.35 and a beta of 0.66. The stock has a 50-day simple moving average of $439.84 and a 200-day simple moving average of $392.92.
The company also recently announced a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Friday, July 30th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Thursday, July 29th. Costco Wholesale’s payout ratio is currently 35.71%.
In other news, VP Timothy L. Rose sold 4,000 shares of the stock in a transaction on Monday, June 28th. The stock was sold at an average price of $396.14, for a total value of $1,584,560.00. Following the completion of the transaction, the vice president now owns 26,625 shares of the company’s stock, valued at $10,547,227.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Joseph P. Portera sold 3,287 shares of the stock in a transaction on Friday, August 13th. The stock was sold at an average price of $445.50, for a total value of $1,464,358.50. The disclosure for this sale can be found here. Insiders sold 11,287 shares of company stock worth $4,686,519 over the last ninety days. 0.22% of the stock is owned by corporate insiders.
A hedge fund recently raised its stake in Costco Wholesale stock. Morgan Stanley lifted its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,185,105 shares of the retailer’s stock after purchasing an additional 91,694 shares during the quarter. Morgan Stanley owned 1.40% of Costco Wholesale worth $2,447,261,000 as of its most recent filing with the Securities & Exchange Commission. 66.96% of the stock is currently owned by institutional investors.
A number of equities analysts have weighed in on the company. Raymond James upped their price target on Costco Wholesale from $415.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, August 5th. Deutsche Bank Aktiengesellschaft upped their price target on Costco Wholesale from $364.00 to $399.00 and gave the stock a “hold” rating in a report on Thursday, September 2nd. Jefferies Financial Group upped their price target on Costco Wholesale from $500.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, September 2nd. Wells Fargo & Company upped their price target on Costco Wholesale from $415.00 to $480.00 and gave the stock an “overweight” rating in a report on Thursday, August 5th. Finally, Royal Bank of Canada upped their price target on Costco Wholesale from $425.00 to $453.00 and gave the stock an “outperform” rating in a report on Friday, May 28th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale presently has a consensus rating of “Buy” and a consensus price target of $441.32.
About Costco Wholesale
Costco Wholesale Corp. engages in the operation of membership warehouses. Its product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations. The company was founded by James D.
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