Jefferies Group Brokers Raise Earnings Estimates for Costco Wholesale Co. (COST)

Costco Wholesale Co. (NASDAQ:COST) – Analysts at Jefferies Group upped their FY2018 EPS estimates for shares of Costco Wholesale in a report released on Monday. Jefferies Group analyst D. Binder now expects that the retailer will earn $6.54 per share for the year, up from their previous estimate of $6.48. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Costco Wholesale’s FY2019 earnings at $7.05 EPS, FY2020 earnings at $7.60 EPS and FY2021 earnings at $8.28 EPS.

Several other equities analysts have also weighed in on the company. Deutsche Bank reissued a “hold” rating and issued a $172.00 target price on shares of Costco Wholesale in a research note on Tuesday, September 5th. Citigroup increased their target price on Costco Wholesale from $155.00 to $187.00 and gave the company a “hold” rating in a research note on Friday, October 6th. Oppenheimer reissued a “buy” rating and issued a $185.00 target price on shares of Costco Wholesale in a research note on Thursday, August 31st. Morgan Stanley lowered Costco Wholesale from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $190.00 to $165.00 in a research note on Friday, October 6th. Finally, Zacks Investment Research lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $183.46.

Costco Wholesale (NASDAQ COST) traded down $1.75 during trading hours on Thursday, reaching $186.53. The company’s stock had a trading volume of 3,738,900 shares, compared to its average volume of 3,097,922. Costco Wholesale has a 1 year low of $150.00 and a 1 year high of $191.22. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $84,600.00, a price-to-earnings ratio of 32.35, a price-to-earnings-growth ratio of 3.05 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.01. The business had revenue of $31.81 billion for the quarter, compared to analysts’ expectations of $31.01 billion. Costco Wholesale had a return on equity of 22.21% and a net margin of 2.08%. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.24 earnings per share.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, November 16th. Costco Wholesale’s dividend payout ratio is currently 32.95%.

In related news, Director Richard M. Libenson sold 2,350 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $162.00, for a total value of $380,700.00. Following the sale, the director now owns 4,109 shares of the company’s stock, valued at approximately $665,658. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $183.26, for a total value of $549,780.00. Following the completion of the sale, the director now directly owns 8,654 shares in the company, valued at approximately $1,585,932.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,842 shares of company stock worth $5,520,848. 0.74% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Westside Investment Management Inc. raised its position in Costco Wholesale by 0.3% in the 2nd quarter. Westside Investment Management Inc. now owns 1,114 shares of the retailer’s stock valued at $168,000 after buying an additional 3 shares during the last quarter. Pioneer Trust Bank N A OR grew its stake in Costco Wholesale by 0.4% in the second quarter. Pioneer Trust Bank N A OR now owns 1,659 shares of the retailer’s stock valued at $266,000 after purchasing an additional 7 shares in the last quarter. SVA Plumb Wealth Management LLC grew its stake in Costco Wholesale by 0.3% in the second quarter. SVA Plumb Wealth Management LLC now owns 2,527 shares of the retailer’s stock valued at $404,000 after purchasing an additional 7 shares in the last quarter. Cetera Investment Advisers grew its stake in Costco Wholesale by 0.5% in the second quarter. Cetera Investment Advisers now owns 1,390 shares of the retailer’s stock valued at $223,000 after purchasing an additional 7 shares in the last quarter. Finally, CHICAGO TRUST Co NA grew its stake in Costco Wholesale by 0.5% in the second quarter. CHICAGO TRUST Co NA now owns 2,515 shares of the retailer’s stock valued at $402,000 after purchasing an additional 12 shares in the last quarter. 71.49% of the stock is currently owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for Costco Wholesale (NASDAQ:COST)

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