Costco Wholesale Co. (COST) Declares $0.50 Quarterly Dividend
Costco Wholesale Co. (NASDAQ:COST) announced a quarterly dividend on Tuesday, January 30th, RTT News reports. Shareholders of record on Friday, February 16th will be paid a dividend of 0.50 per share by the retailer on Friday, March 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Thursday, February 15th.
Costco Wholesale has raised its dividend by an average of 12.4% per year over the last three years and has increased its dividend every year for the last 14 years. Costco Wholesale has a dividend payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Costco Wholesale to earn $7.38 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 27.1%.
Shares of Costco Wholesale (NASDAQ COST) opened at $184.15 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.57. Costco Wholesale has a 1-year low of $150.00 and a 1-year high of $199.88. The stock has a market cap of $79,504.52, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 2.96 and a beta of 0.99.
In related news, VP Timothy L. Rose sold 5,000 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $193.20, for a total value of $966,000.00. Following the transaction, the vice president now owns 52,529 shares of the company’s stock, valued at $10,148,602.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $193.41, for a total value of $580,230.00. Following the completion of the transaction, the director now directly owns 8,654 shares in the company, valued at approximately $1,673,770.14. The disclosure for this sale can be found here. In the last three months, insiders sold 91,185 shares of company stock worth $17,408,817. 0.58% of the stock is owned by insiders.
Several research analysts have recently weighed in on COST shares. Oppenheimer reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Friday, October 20th. BMO Capital Markets raised shares of Costco Wholesale from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $192.73 to $215.00 in a report on Monday, December 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $200.00 price target on shares of Costco Wholesale in a report on Monday, December 4th. Vetr cut shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $171.07 price target on the stock. in a report on Monday, November 6th. Finally, Morgan Stanley set a $175.00 price target on shares of Costco Wholesale and gave the stock a “hold” rating in a report on Friday, December 15th. Nine analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $190.36.
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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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