Costco Wholesale (NASDAQ:COST) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Costco Wholesale (NASDAQ:COSTGet Rating) issued its quarterly earnings data on Thursday. The retailer reported $3.04 EPS for the quarter, beating the consensus estimate of $3.03 by $0.01, MarketWatch Earnings reports. The company had revenue of $52.60 billion during the quarter, compared to analysts’ expectations of $51.49 billion. Costco Wholesale had a net margin of 2.62% and a return on equity of 30.10%. Costco Wholesale’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.75 earnings per share.

Shares of NASDAQ COST opened at $470.76 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 0.33. Costco Wholesale has a 12 month low of $375.50 and a 12 month high of $612.27. The firm has a market capitalization of $208.65 billion, a PE ratio of 37.93, a price-to-earnings-growth ratio of 3.56 and a beta of 0.70. The firm has a fifty day simple moving average of $536.64 and a two-hundred day simple moving average of $531.14.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, April 29th were issued a $0.90 dividend. The ex-dividend date was Thursday, April 28th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.79. This represents a $3.60 annualized dividend and a yield of 0.76%. Costco Wholesale’s dividend payout ratio is 29.01%.

A number of equities analysts have commented on COST shares. BMO Capital Markets boosted their price target on shares of Costco Wholesale from $560.00 to $580.00 and gave the stock an “outperform” rating in a research note on Friday, March 4th. Oppenheimer cut their price target on shares of Costco Wholesale from $645.00 to $500.00 and set an “outperform” rating for the company in a research note on Friday, May 20th. Truist Financial boosted their price target on shares of Costco Wholesale from $503.00 to $543.00 and gave the stock a “buy” rating in a research note on Friday. Raymond James boosted their price target on shares of Costco Wholesale from $565.00 to $645.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 19th. Finally, Citigroup cut their price target on shares of Costco Wholesale from $590.00 to $510.00 and set a “neutral” rating for the company in a research note on Friday. Six analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Buy” and a consensus price target of $562.39.

In other Costco Wholesale news, VP Timothy L. Rose sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $566.29, for a total value of $2,265,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth D. Denman sold 250 shares of the company’s stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $554.67, for a total transaction of $138,667.50. The disclosure for this sale can be found here. Insiders sold a total of 9,248 shares of company stock valued at $5,417,137 over the last 90 days. Company insiders own 0.22% of the company’s stock.

Several large investors have recently added to or reduced their stakes in COST. Morgan Stanley grew its position in shares of Costco Wholesale by 1.5% in the 2nd quarter. Morgan Stanley now owns 6,185,105 shares of the retailer’s stock worth $2,447,261,000 after buying an additional 91,694 shares during the period. Heritage Wealth Advisors grew its position in shares of Costco Wholesale by 4.6% in the 4th quarter. Heritage Wealth Advisors now owns 2,267 shares of the retailer’s stock worth $1,287,000 after buying an additional 100 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in shares of Costco Wholesale in the 4th quarter worth about $389,000. Barclays PLC grew its position in Costco Wholesale by 47.5% during the 4th quarter. Barclays PLC now owns 1,446,526 shares of the retailer’s stock valued at $821,194,000 after purchasing an additional 465,780 shares during the last quarter. Finally, Flow Traders U.S. LLC purchased a new stake in Costco Wholesale during the 4th quarter valued at about $299,000. 67.52% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Company Profile (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.

Featured Articles

Earnings History for Costco Wholesale (NASDAQ:COST)

Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.