Costco Wholesale (NASDAQ:COST) Issues Earnings Results

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

Costco Wholesale Price Performance

COST opened at $487.17 on Friday. The company has a 50-day moving average of $529.73 and a 200-day moving average of $519.85. The company has a market capitalization of $215.80 billion, a P/E ratio of 38.36, a PEG 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 quick ratio of 0.48 and a current ratio of 1.04.

Costco Wholesale Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.07%. The ex-dividend date was Thursday, July 28th. Costco Wholesale’s payout ratio is currently 28.35%.

Insider Transactions at Costco Wholesale

In other news, VP James P. Murphy sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total value of $787,800.00. Following the completion of the sale, the vice president now directly owns 36,230 shares of the company’s stock, valued at approximately $19,027,996. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Kenneth D. Denman sold 300 shares of the stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $521.68, for a total transaction of $156,504.00. Following the completion of the sale, the director now directly owns 5,197 shares of the company’s stock, valued at $2,711,170.96. 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 stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total transaction of $787,800.00. Following the sale, the vice president now directly owns 36,230 shares of the company’s stock, valued at $19,027,996. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,800 shares of company stock valued at $1,449,904. Insiders own 0.22% of the company’s stock.

Institutional Trading of Costco Wholesale

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. United Bank increased its stake in Costco Wholesale by 9.2% in the 1st quarter. United Bank now owns 5,254 shares of the retailer’s stock valued at $3,026,000 after buying an additional 444 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Costco Wholesale by 33.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 383,691 shares of the retailer’s stock valued at $220,948,000 after buying an additional 96,566 shares during the period. Covestor Ltd increased its stake in Costco Wholesale by 87.1% in the 1st quarter. Covestor Ltd now owns 232 shares of the retailer’s stock valued at $134,000 after buying an additional 108 shares during the period. Bridgefront Capital LLC acquired a new position in Costco Wholesale in the 1st quarter valued at approximately $333,000. Finally, Next Century Growth Investors LLC increased its stake in Costco Wholesale by 0.9% in the 1st quarter. Next Century Growth Investors LLC now owns 3,414 shares of the retailer’s stock valued at $1,965,000 after buying an additional 30 shares during the period. 66.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COST has been the subject of a number of research analyst reports. Raymond James increased their target price on shares of Costco Wholesale from $560.00 to $600.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Loop Capital dropped their price objective on shares of Costco Wholesale from $610.00 to $585.00 in a research note on Thursday, September 1st. Credit Suisse Group dropped their price objective on shares of Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, May 27th. Oppenheimer raised their price objective on shares of Costco Wholesale from $535.00 to $600.00 in a research note on Thursday, August 4th. Finally, The Goldman Sachs Group lifted their target price on shares of Costco Wholesale from $516.00 to $573.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $575.36.

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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