Costco Wholesale Corporation (COST) To Go Ex-Dividend on July 24th

Costco Wholesale Corporation (NASDAQ:COST) declared a quarterly dividend on Wednesday, July 8th. Stockholders of record on Friday, July 24th will be given a dividend of 1.47 per share by the retailer on Friday, August 7th. This represents a c) annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, July 24th.

Costco Wholesale has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 22 consecutive years. Costco Wholesale has a dividend payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Costco Wholesale to earn $22.46 per share next year, which means the company should continue to be able to cover its $5.88 annual dividend with an expected future payout ratio of 26.2%.

Costco Wholesale Trading Down 4.2%

Costco Wholesale stock opened at $912.97 on Friday. Costco Wholesale has a 52-week low of $844.06 and a 52-week high of $1,096.50. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $404.88 billion, a price-to-earnings ratio of 45.92, a PEG ratio of 4.62 and a beta of 0.88. The firm has a 50-day moving average price of $985.31 and a two-hundred day moving average price of $975.67.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, May 28th. The retailer reported $4.93 EPS for the quarter, missing the consensus estimate of $4.94 by ($0.01). The firm had revenue of $70.53 billion during the quarter, compared to analyst estimates of $70.12 billion. Costco Wholesale had a net margin of 3.01% and a return on equity of 28.04%. During the same quarter in the previous year, the business posted $4.28 EPS. Sell-side analysts expect that Costco Wholesale will post 20.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Guggenheim reaffirmed a “neutral” rating on shares of Costco Wholesale in a research note on Monday, June 1st. The Goldman Sachs Group upped their price objective on shares of Costco Wholesale from $1,088.00 to $1,159.00 and gave the stock a “buy” rating in a report on Friday, May 29th. TD Cowen reiterated a “buy” rating and issued a $1,175.00 target price on shares of Costco Wholesale in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. lowered their target price on shares of Costco Wholesale from $1,110.00 to $1,100.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Roth Capital boosted their price target on shares of Costco Wholesale from $769.00 to $781.00 and gave the stock a “sell” rating in a research report on Friday, May 29th. Twenty-two analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,061.10.

About Costco Wholesale

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company’s product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco’s business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.