Costco Wholesale Corporation (COST) Announces Quarterly Dividend of $0.50
Costco Wholesale Corporation (NASDAQ:COST) announced a quarterly dividend on Monday, October 30th, RTT News reports. Investors of record on Friday, November 17th will be paid a dividend of 0.50 per share by the retailer on Friday, December 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.25%.
Costco Wholesale Corporation has raised its dividend payment by an average of 13.2% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Costco Wholesale Corporation has a payout ratio of 31.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Costco Wholesale Corporation to earn $7.03 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 28.4%.
Shares of Costco Wholesale Corporation (NASDAQ:COST) traded down 1.32% during mid-day trading on Monday, hitting $160.23. The company had a trading volume of 2,551,101 shares. Costco Wholesale Corporation has a one year low of $142.11 and a one year high of $183.18. The company has a market capitalization of $70.05 billion, a PE ratio of 26.35 and a beta of 0.94. The company’s 50-day moving average is $161.15 and its 200 day moving average is $163.94.
Costco Wholesale Corporation (NASDAQ:COST) last posted its earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a return on equity of 22.21% and a net margin of 2.08%. The business had revenue of $42.30 billion during the quarter, compared to analysts’ expectations of $41.55 billion. During the same period in the previous year, the business earned $1.77 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. On average, equities research analysts forecast that Costco Wholesale Corporation will post $6.43 EPS for the current fiscal year.
In related news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $157.59, for a total value of $157,590.00. Following the sale, the director now owns 6,974 shares in the company, valued at approximately $1,099,032.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dennis R. Zook sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $161.92, for a total value of $809,600.00. Following the completion of the sale, the vice president now owns 626 shares in the company, valued at approximately $101,361.92. The disclosure for this sale can be found here. Insiders sold a total of 15,350 shares of company stock valued at $2,474,960 in the last three months. Corporate insiders own 0.74% of the company’s stock.
COST has been the subject of a number of research reports. Sanford C. Bernstein reiterated a “hold” rating on shares of Costco Wholesale Corporation in a report on Thursday, July 6th. Cowen and Company reiterated an “outperform” rating on shares of Costco Wholesale Corporation in a report on Monday, July 24th. Stifel Nicolaus set a $173.00 price objective on Costco Wholesale Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. Wells Fargo & Company reiterated a “hold” rating on shares of Costco Wholesale Corporation in a report on Thursday, August 3rd. Finally, Vetr cut Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating and set a $183.04 price objective for the company. in a report on Wednesday, September 27th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Costco Wholesale Corporation presently has an average rating of “Buy” and an average price target of $178.50.
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About Costco Wholesale Corporation
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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