Costco Wholesale (NASDAQ:COST) Issues Quarterly Earnings Results

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

Costco Wholesale Trading Down 1.2 %

COST opened at $487.17 on Friday. The company has a market cap of $215.80 billion, a P/E ratio of 38.36, a PEG ratio of 3.72 and a beta of 0.70. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $529.73 and its 200-day moving average is $519.85. Costco Wholesale has a 1-year low of $406.51 and a 1-year high of $612.27.

Costco Wholesale Cuts Dividend

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

Insider Buying and Selling

In related 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 transaction of $787,800.00. Following the completion of the transaction, the vice president now directly owns 36,230 shares in the company, valued at approximately $19,027,996. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Kenneth D. Denman sold 300 shares of the company’s 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 transaction, the director now directly owns 5,197 shares in the company, valued at approximately $2,711,170.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP James P. Murphy sold 1,500 shares of the business’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 sale, the vice president now directly owns 36,230 shares in the company, valued at $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 three months. 0.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Costco Wholesale

A number of institutional investors have recently added to or reduced their stakes in the business. Next Century Growth Investors LLC grew its holdings in 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 acquiring an additional 30 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in 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 acquiring an additional 36 shares during the last quarter. KC Investment Advisors LLC grew its holdings in 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 acquiring an additional 44 shares during the last quarter. Wall Street Access Asset Management LLC grew its holdings in 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 acquiring an additional 56 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC grew its holdings in 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 acquiring an additional 75 shares during the last quarter. 66.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on COST. Raymond James boosted their target price on shares of Costco Wholesale from $560.00 to $600.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Truist Financial increased their target price on Costco Wholesale from $543.00 to $571.00 in a report on Thursday, August 4th. Oppenheimer boosted their price target on shares of Costco Wholesale from $535.00 to $600.00 in a research report on Thursday, August 4th. Citigroup raised their target price on Costco Wholesale from $510.00 to $545.00 in a research note on Thursday, August 4th. Finally, Loop Capital cut their price target on Costco Wholesale from $610.00 to $585.00 in a research note on Thursday, September 1st. Four research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $575.36.

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.

Further Reading

Earnings History for Costco Wholesale (NASDAQ:COST)

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