Equities Analysts Issue Forecasts for Costco Wholesale Co.’s FY2024 Earnings (NASDAQ:COST)

Costco Wholesale Co. (NASDAQ:COST) – Analysts at Telsey Advisory Group decreased their FY2024 earnings per share estimates for Costco Wholesale in a research report issued on Wednesday, April 10th. Telsey Advisory Group analyst J. Feldman now forecasts that the retailer will post earnings per share of $15.69 for the year, down from their prior forecast of $15.89. Telsey Advisory Group currently has a “Outperform” rating and a $800.00 target price on the stock. The consensus estimate for Costco Wholesale’s current full-year earnings is $15.84 per share. Telsey Advisory Group also issued estimates for Costco Wholesale’s Q4 2024 earnings at $5.01 EPS, Q1 2025 earnings at $3.83 EPS, Q2 2025 earnings at $4.08 EPS, Q3 2025 earnings at $4.02 EPS, Q4 2025 earnings at $5.66 EPS and FY2025 earnings at $17.60 EPS.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, March 7th. The retailer reported $3.71 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.09. The business had revenue of $58.44 billion for the quarter, compared to analyst estimates of $59.11 billion. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. Costco Wholesale’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $3.30 earnings per share.

A number of other analysts have also commented on the company. The Goldman Sachs Group lifted their price target on Costco Wholesale from $665.00 to $749.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Evercore ISI raised their target price on Costco Wholesale from $795.00 to $805.00 and gave the stock an “outperform” rating in a research report on Thursday. Loop Capital decreased their target price on Costco Wholesale from $830.00 to $820.00 and set a “buy” rating for the company in a research report on Thursday. Oppenheimer raised their target price on Costco Wholesale from $760.00 to $805.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Finally, Wells Fargo & Company raised their target price on Costco Wholesale from $610.00 to $675.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $691.28.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $731.31 on Monday. The business’s fifty day simple moving average is $730.68 and its 200 day simple moving average is $656.72. The firm has a market capitalization of $324.34 billion, a P/E ratio of 47.83, a price-to-earnings-growth ratio of 5.05 and a beta of 0.77. Costco Wholesale has a 12 month low of $476.75 and a 12 month high of $787.08. The company has a current ratio of 0.93, a quick ratio of 0.43 and a debt-to-equity ratio of 0.28.

Institutional Investors Weigh In On Costco Wholesale

Several institutional investors have recently bought and sold shares of COST. Richelieu Gestion SA purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $26,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Costco Wholesale in the 4th quarter worth approximately $26,000. Morton Brown Family Wealth LLC raised its position in shares of Costco Wholesale by 200.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after acquiring an additional 30 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Costco Wholesale in the 4th quarter worth approximately $30,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Costco Wholesale news, Director Susan L. Decker sold 1,442 shares of Costco Wholesale stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $723.48, for a total transaction of $1,043,258.16. Following the completion of the sale, the director now owns 12,395 shares of the company’s stock, valued at $8,967,534.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Costco Wholesale news, Director Susan L. Decker sold 1,442 shares of Costco Wholesale stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $723.48, for a total transaction of $1,043,258.16. Following the completion of the sale, the director now owns 12,395 shares of the company’s stock, valued at $8,967,534.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Yoram Rubanenko sold 2,500 shares of the stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $680.33, for a total value of $1,700,825.00. Following the sale, the vice president now owns 5,910 shares of the company’s stock, valued at $4,020,750.30. The disclosure for this sale can be found here. Insiders sold a total of 14,182 shares of company stock worth $9,809,558 over the last ninety days. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.63%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date is Thursday, April 25th. Costco Wholesale’s payout ratio is presently 30.35%.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.