Analysts predict that Costco Wholesale Co. (NASDAQ: COST) will report revenue of $ 59.53 billion for the current fiscal quarter, reports Zacks. Six analysts have estimated Costco Wholesale’s revenue, with the lowest revenue estimate at $ 58.00 billion and the highest estimate at $ 61.18 billion. Costco Wholesale reported revenue of $ 53.38 billion in the same quarter last year, indicating a positive year-over-year growth rate of 11.5%. The company is expected to release its next earnings numbers on Thursday, September 23rd.
On average, analysts expect Costco Wholesale to post annual sales of $ 191.83 billion for the current year, with estimates ranging between $ 186.13 billion and $ 194.43 billion. For the next year, analysts forecast sales of 205.55 billion US dollars, with estimates ranging between 198.25 billion US dollars and 210.54 billion US dollars. Zacks’ revenue calculations are based on a survey of sell-side analysts covering Costco Wholesale.
Costco Wholesale (NASDAQ: COST) last released its quarterly results on Wednesday May 26th. The retailer reported $ 2.75 EPS for the quarter, beating Zacks’ consensus estimate of $ 2.28 by $ 0.47. The company had revenue of $ 44.38 billion for the quarter, compared to analyst expectations of $ 43.82 billion. Costco Wholesale had a net margin of 2.53% and a return on equity of 27.30%. The company’s quarterly sales increased 21.8% compared to the same quarter last year. For the same quarter last year, the company had earnings per share of $ 1.89.
Several equity research analysts have commented on COST stocks. The Telsey Advisory Group raised its price target for Costco Wholesale shares from USD 395.00 to USD 415.00 and rated the company as “outperform” in a research release on Friday, May 28th. The Royal Bank of Canada raised its price target for Costco Wholesale shares from USD 425.00 to USD 453.00 and rated the shares as “outperform” in a research note on Friday, May 28th. Wells Fargo & Company raised its price target on Costco Wholesale shares from $ 400.00 to $ 415.00 and rated the company as “overweight” in a research release on Wednesday June 2nd. Raymond James raised his price target on Costco Wholesale shares from $ 410.00 to $ 415.00 and rated the company as “outperform” in a report dated Friday, May 28th. Eventually, Oppenheimer raised its price target for Costco Wholesale shares from $ 400.00 to $ 425.00 and rated the stock as “Outperform” in a report on Tuesday, May 18. Eight analysts have given the stock a hold rating and eighteen a buy rating. The company has a consensus rating of “Buy” and a consensus price target of $ 401.00.
In other Costco Wholesale news, VP Timothy L. Rose sold 4,000 shares in the company in a transaction dated Monday, June 28. The shares were sold at an average price of $ 396.14 for a total transaction of $ 1,584,560.00. Following the transaction, the vice president now owns 26,625 shares in the company valued at approximately $ 10,547,227.50. The transaction was announced in a legal filing with the Securities & Exchange Commission, which is available on the SEC website. In addition, EPP James C. Klauer sold 5,000 shares in the company in a transaction on Monday June 14th. The shares were sold at an average price of $ 380.53 for a total transaction of $ 1,902,650.00. Following the transaction, the executive vice president now directly owns 51,627 shares in the company valued at approximately $ 19,645,622.31. The disclosure for this sale can be found here. Insiders sold a total of 13,730 shares in the company for $ 5,277,679 in the past 90 days. Company insiders own 0.22% of the company’s shares.
A number of hedge funds have recently increased or reduced their stake in COST. BlackRock Inc. increased its stake in Costco Wholesale shares by 3.6% in the first quarter. BlackRock Inc. now owns 29,726,284 shares in the retailer valued at $ 10,477,920,000 after purchasing an additional 1,042,052 shares last quarter. Morgan Stanley increased its position in Costco Wholesale 40.3% in the fourth quarter. Morgan Stanley now owns 7,084,438 shares in the retailer valued at $ 2,669,275,000 after purchasing an additional 2,034,871 shares last quarter. Geode Capital Management LLC increased its position in Costco Wholesale by 2.3% in the first quarter. Geode Capital Management LLC now owns 6,801,320 shares of the retailer valued at $ 2,390,245,000 after purchasing an additional 154,594 shares last quarter. Northern Trust Corp increased its position in Costco Wholesale by 0.3% in the first quarter. Northern Trust Corp now owns 6,036,880 shares in the retailer valued at $ 2,127,880,000 after purchasing an additional 18,941 shares last quarter. Ultimately, Norges Bank acquired a new position in Costco Wholesale worth approximately $ 1,784,019,000 in the fourth quarter. Institutional investors own 65.57% of the company’s shares.
COST stock opened at $ 404.68 on Thursday. The company has a market cap of $ 178.90 billion, a P / E of 38.03, a PEG of 4.19, and a beta of 0.66. The stock’s 50-day moving average is $ 384.74. The company has a quick ratio of 0.50, a current ratio of 1.00, and debt of 0.44. Costco Wholesale has a 1-year low of $ 307.00 and a 1-year high of $ 406.11.
The company also recently announced a quarterly dividend, which was paid on Friday, May 14th. Shareholders of record on Friday April 30th received a dividend of $ 0.79. This equates to an annualized dividend of $ 3.16 and a dividend yield of 0.78%. The ex-dividend date was Thursday, April 29th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $ 0.70. Costco Wholesale’s dividend payout ratio (DPR) is 35.71%.
Via Costco Wholesale
Costco Wholesale Corporation, along with its subsidiaries, operates member warehouses in the United States, Puerto Rico, Canada, United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and own-brand products in various product groups.
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