Costco Wholesale Co. (NASDAQ:COST – Get Rating) – Analysts at Jefferies Financial Group decreased their FY2022 earnings per share (EPS) estimates for shares of Costco Wholesale in a research report issued on Thursday, June 2nd. Jefferies Financial Group analyst S. Wissink now forecasts that the retailer will post earnings of $13.16 per share for the year, down from their previous estimate of $13.26. Jefferies Financial Group has a “Buy” rating and a $580.00 price objective on the stock. Jefferies Financial Group also issued estimates for Costco Wholesale’s Q4 2022 earnings at $4.22 EPS, Q1 2023 earnings at $3.15 EPS, Q2 2023 earnings at $3.25 EPS, Q3 2023 earnings at $3.38 EPS, Q4 2023 earnings at $4.98 EPS and FY2023 earnings at $14.76 EPS.
Costco Wholesale (NASDAQ:COST – Get Rating) last released its quarterly earnings data on Thursday, May 26th. The retailer reported $3.04 EPS for the quarter, beating the consensus estimate of $3.03 by $0.01. Costco Wholesale had a return on equity of 29.71% and a net margin of 2.60%. The company had revenue of $52.60 billion for the quarter, compared to analyst estimates of $51.49 billion. During the same period last year, the company posted $2.75 earnings per share. The firm’s revenue was up 18.5% compared to the same quarter last year.
Several other brokerages have also recently commented on COST. Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $595.00 target price on the stock in a report on Monday, March 21st. Loop Capital lowered their price target on shares of Costco Wholesale from $650.00 to $610.00 and set a “buy” rating on the stock in a report on Friday, May 27th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Costco Wholesale from $530.00 to $525.00 in a research report on Wednesday, May 25th. Robert W. Baird decreased their price objective on shares of Costco Wholesale from $600.00 to $560.00 and set an “outperform” rating on the stock in a research note on Friday, May 27th. Finally, The Goldman Sachs Group increased their price target on shares of Costco Wholesale from $561.00 to $627.00 and gave the company a “buy” rating in a research note on Thursday, April 7th. Five analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $570.54.
Shares of COST stock opened at $476.25 on Monday. The company has a quick ratio of 0.51, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $528.14 and a two-hundred day moving average of $529.61. Costco Wholesale has a 52 week low of $377.12 and a 52 week high of $612.27. The company has a market cap of $211.09 billion, a P/E ratio of 37.50, a PEG ratio of 4.12 and a beta of 0.71.
The business also recently announced a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.76%. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.79. The ex-dividend date was Thursday, April 28th. Costco Wholesale’s payout ratio is presently 28.35%.
In other Costco Wholesale news, VP Timothy L. Rose sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $566.29, for a total transaction of $2,265,160.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Claudine Adamo sold 500 shares of the stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $602.03, for a total value of $301,015.00. Following the transaction, the executive vice president now directly owns 9,939 shares of the company’s stock, valued at $5,983,576.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,248 shares of company stock valued at $5,417,137. Insiders own 0.22% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in COST. Morgan Stanley raised its position in Costco Wholesale by 1.5% in the second quarter. Morgan Stanley now owns 6,185,105 shares of the retailer’s stock valued at $2,447,261,000 after purchasing an additional 91,694 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Costco Wholesale by 6.5% in the third quarter. Franklin Resources Inc. now owns 574,859 shares of the retailer’s stock valued at $258,313,000 after purchasing an additional 35,127 shares in the last quarter. One Capital Management LLC lifted its holdings in shares of Costco Wholesale by 24.2% in the third quarter. One Capital Management LLC now owns 1,412 shares of the retailer’s stock valued at $634,000 after purchasing an additional 275 shares in the last quarter. Cornerstone Wealth Management LLC lifted its holdings in shares of Costco Wholesale by 5.9% in the third quarter. Cornerstone Wealth Management LLC now owns 2,656 shares of the retailer’s stock valued at $1,193,000 after purchasing an additional 147 shares in the last quarter. Finally, Osterweis Capital Management Inc. lifted its holdings in shares of Costco Wholesale by 32.5% in the third quarter. Osterweis Capital Management Inc. now owns 1,060 shares of the retailer’s stock valued at $476,000 after purchasing an additional 260 shares in the last quarter. Institutional investors and hedge funds own 67.52% of the company’s stock.
About Costco Wholesale (Get Rating)
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.
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