Costco Wholesale (NASDAQ:COST) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Costco Wholesale (NASDAQ:COSTGet Rating) issued its quarterly earnings data on Thursday. The retailer reported $4.20 earnings per share for the quarter, beating the consensus estimate of $4.17 by $0.03, Briefing.com reports. The company had revenue of $72.09 billion for the quarter, compared to analyst estimates of $72 billion. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. The company’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.90 earnings per share.

Costco Wholesale Stock Down 1.2 %

Shares of NASDAQ COST opened at $487.17 on Friday. The company has a 50 day simple moving average of $529.73 and a 200 day simple moving average of $519.85. The firm has a market cap of $215.80 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 3.72 and a beta of 0.70. Costco Wholesale has a 1 year low of $406.51 and a 1 year high of $612.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48.

Costco Wholesale Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.36 dividend on an annualized basis and a yield of 0.07%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.35%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on COST. Jefferies Financial Group reissued a “buy” rating and issued a $580.00 price objective on shares of Costco Wholesale in a research report on Friday, July 29th. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, July 15th. Truist Financial upped their price target on shares of Costco Wholesale from $543.00 to $571.00 in a research note on Thursday, August 4th. Robert W. Baird restated an “outperform” rating and issued a $575.00 price target on shares of Costco Wholesale in a research note on Friday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Costco Wholesale from $579.00 to $581.00 and gave the company a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $575.36.

Insider Activity at Costco Wholesale

In related news, CFO Richard A. Galanti sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $505.60, for a total value of $505,600.00. Following the completion of the transaction, the chief financial officer now owns 25,750 shares in the company, valued at approximately $13,019,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Costco Wholesale news, CFO Richard A. Galanti sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $505.60, for a total transaction of $505,600.00. Following the completion of the transaction, the chief financial officer now owns 25,750 shares in the company, valued at approximately $13,019,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP James P. Murphy sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $525.20, for a total transaction of $787,800.00. Following the transaction, the vice president now owns 36,230 shares of the company’s stock, valued at approximately $19,027,996. The disclosure for this sale can be found here. Insiders sold a total of 2,800 shares of company stock worth $1,449,904 in the last quarter. 0.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Next Century Growth Investors LLC grew its position in shares of Costco Wholesale by 0.9% during the 1st quarter. Next Century Growth Investors LLC now owns 3,414 shares of the retailer’s stock worth $1,965,000 after buying an additional 30 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of Costco Wholesale by 0.7% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 5,280 shares of the retailer’s stock worth $3,040,000 after buying an additional 36 shares during the period. KC Investment Advisors LLC grew its position in shares of Costco Wholesale by 1.9% during the 1st quarter. KC Investment Advisors LLC now owns 2,304 shares of the retailer’s stock worth $1,327,000 after buying an additional 44 shares during the period. Wall Street Access Asset Management LLC grew its position in shares of Costco Wholesale by 7.7% during the 1st quarter. Wall Street Access Asset Management LLC now owns 783 shares of the retailer’s stock worth $451,000 after buying an additional 56 shares during the period. Finally, Carolinas Wealth Consulting LLC grew its position in shares of Costco Wholesale by 9.8% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 840 shares of the retailer’s stock worth $484,000 after buying an additional 75 shares during the period. Institutional investors own 66.83% 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.

Further Reading

Earnings History for Costco Wholesale (NASDAQ:COST)

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