Costco Wholesale Co. (NASDAQ:COST) saw its stock price rise by 0.5% on Wednesday, reaching a high of $855.46 and closing at $853.40. The trading volume was 523,513 shares, which is a significant decrease from the average volume of 1,971,190 shares. This positive movement in the stock price indicates investor confidence in the company.
Analysts have been closely following Costco Wholesale and have recently updated their ratings on the stock. BMO Capital Markets maintained an “outperform” rating with a price target of $875.00, while Roth Mkm and Citigroup both reiterated their “neutral” ratings with price targets of $676.00 and $800.00, respectively. DA Davidson also maintained a “neutral” rating with a price target of $680.00. Overall, the stock has received a moderate buy rating from analysts, with an average target price of $750.00.
Costco Wholesale has been performing well in the market, with a fifty-day moving average price of $771.22 and a 200-day moving average price of $719.64. The company has a market capitalization of $375.04 billion, a PE ratio of 52.41, and a beta of 0.79. Costco Wholesale recently reported quarterly earnings of $3.78 per share, surpassing analysts’ expectations. The company’s revenue for the quarter was $58.52 billion, reflecting a 9.1% increase year-over-year.
Additionally, Costco Wholesale announced an increase in its quarterly dividend, signaling strong financial performance and shareholder value. The company paid a dividend of $1.16 per share on May 10th, up from the previous dividend of $1.02. This represents an annualized dividend of $4.64 and a yield of 0.55%. Costco Wholesale’s payout ratio is 28.75%, indicating a sustainable dividend policy.
In terms of insider transactions, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in April, further boosting investor confidence in the company. Institutional investors have also shown interest in Costco Wholesale, with several hedge funds increasing their stakes in the business. Truepoint Inc., Bank Julius Baer & Co. Ltd Zurich, and Altiora Financial Group LLC are among the institutions that have purchased shares of Costco Wholesale.
Costco Wholesale Corporation operates membership warehouses across various countries, offering a wide range of branded and private-label products. The company has a strong presence in the retail market and continues to deliver value to its customers and shareholders. With a focus on financial stability and growth, Costco Wholesale remains a top choice for investors seeking long-term returns.