Wall Street analysts expect that Costco Wholesale Co. (NASDAQ:COST) will announce sales of $42.88 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Costco Wholesale’s earnings. The lowest sales estimate is $41.86 billion and the highest is $44.38 billion. Costco Wholesale reported sales of $42.30 billion during the same quarter last year, which would suggest a positive year over year growth rate of 1.4%. The business is scheduled to report its next earnings report on Thursday, October 4th.
On average, analysts expect that Costco Wholesale will report full year sales of $139.98 billion for the current fiscal year, with estimates ranging from $136.88 billion to $142.34 billion. For the next financial year, analysts forecast that the firm will report sales of $149.33 billion per share, with estimates ranging from $144.80 billion to $153.43 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Costco Wholesale.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 31st. The retailer reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.02. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.16%. The company had revenue of $32.36 billion during the quarter, compared to the consensus estimate of $31.89 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. Costco Wholesale’s quarterly revenue was up 12.1% compared to the same quarter last year.
COST has been the subject of a number of research reports. ValuEngine raised Costco Wholesale from a “hold” rating to a “buy” rating in a report on Thursday. Loop Capital started coverage on Costco Wholesale in a research report on Wednesday, May 16th. They issued a “buy” rating and a $224.00 target price for the company. Robert W. Baird upped their target price on Costco Wholesale from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, June 7th. Wells Fargo & Co raised Costco Wholesale from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $191.42 to $188.91 in a research report on Monday, April 16th. Finally, BidaskClub raised Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 28th. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $199.15.
Shares of Costco Wholesale traded up $1.14, reaching $211.10, on Thursday, MarketBeat.com reports. 1,738,640 shares of the stock were exchanged, compared to its average volume of 2,153,089. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 0.52. Costco Wholesale has a twelve month low of $150.00 and a twelve month high of $211.77. The company has a market capitalization of $92.08 billion, a price-to-earnings ratio of 36.27, a price-to-earnings-growth ratio of 2.79 and a beta of 0.95.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 25th. Stockholders of record on Friday, May 11th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Thursday, May 10th. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.50. Costco Wholesale’s dividend payout ratio (DPR) is 39.18%.
In other Costco Wholesale news, VP Richard A. Galanti sold 2,406 shares of the stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $207.11, for a total transaction of $498,306.66. Following the completion of the transaction, the vice president now owns 25,474 shares in the company, valued at $5,275,920.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $186.91, for a total transaction of $560,730.00. Following the transaction, the director now owns 8,654 shares of the company’s stock, valued at approximately $1,617,519.14. The disclosure for this sale can be found here. In the last three months, insiders sold 38,884 shares of company stock valued at $7,741,396. Insiders own 0.74% of the company’s stock.
Large investors have recently modified their holdings of the business. Private Wealth Partners LLC boosted its holdings in shares of Costco Wholesale by 5.3% during the 4th quarter. Private Wealth Partners LLC now owns 43,873 shares of the retailer’s stock worth $8,166,000 after buying an additional 2,200 shares during the period. Front Row Advisors LLC acquired a new stake in Costco Wholesale in the fourth quarter worth about $636,000. Boys Arnold & Co. Inc. boosted its holdings in Costco Wholesale by 2.5% in the fourth quarter. Boys Arnold & Co. Inc. now owns 14,309 shares of the retailer’s stock worth $2,663,000 after acquiring an additional 350 shares in the last quarter. HL Financial Services LLC boosted its holdings in Costco Wholesale by 1.8% in the fourth quarter. HL Financial Services LLC now owns 81,426 shares of the retailer’s stock worth $15,155,000 after acquiring an additional 1,466 shares in the last quarter. Finally, CIBC World Markets Inc. boosted its holdings in Costco Wholesale by 8.3% in the fourth quarter. CIBC World Markets Inc. now owns 95,863 shares of the retailer’s stock worth $17,842,000 after acquiring an additional 7,306 shares in the last quarter. Hedge funds and other institutional investors own 71.29% of the company’s stock.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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