FY2024 Earnings Forecast for Costco Wholesale Co. Issued By Telsey Advisory Group (NASDAQ:COST)

Costco Wholesale Co. (NASDAQ:COST) – Research analysts at Telsey Advisory Group cut their FY2024 earnings per share (EPS) estimates for Costco Wholesale in a report released on Wednesday, April 10th. Telsey Advisory Group analyst J. Feldman now expects that the retailer will post earnings of $15.69 per share for the year, down from their prior estimate of $15.89. Telsey Advisory Group has a “Outperform” rating and a $800.00 price objective 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 data on Thursday, March 7th. The retailer reported $3.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.09. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The business had revenue of $58.44 billion for the quarter, compared to the consensus estimate of $59.11 billion. During the same period in the prior year, the business earned $3.30 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis.

Other equities research analysts have also issued research reports about the company. Evercore ISI increased their target price on Costco Wholesale from $795.00 to $805.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. DA Davidson reiterated a “neutral” rating and issued a $680.00 target price on shares of Costco Wholesale in a research note on Thursday, April 11th. Gordon Haskett lowered Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 target price for the company. in a research note on Wednesday, April 3rd. StockNews.com lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Finally, Northcoast Research lowered Costco Wholesale from a “buy” rating to a “neutral” rating and set a $620.00 target price for the company. in a research note on Wednesday, December 20th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $691.28.

Costco Wholesale Stock Performance

NASDAQ COST opened at $715.97 on Monday. The business’s 50-day moving average price is $730.92 and its 200 day moving average price is $658.84. Costco Wholesale has a twelve month low of $476.75 and a twelve month high of $787.08. The company has a market capitalization of $317.53 billion, a PE ratio of 46.83, a price-to-earnings-growth ratio of 4.87 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.43 and a debt-to-equity ratio of 0.28.

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 $1.16 dividend. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a yield of 0.65%. The ex-dividend date is Thursday, April 25th. Costco Wholesale’s dividend payout ratio (DPR) is currently 26.68%.

Insider Activity at Costco Wholesale

In other news, EVP Claudine Adamo sold 1,500 shares of Costco Wholesale stock in a transaction on Monday, March 11th. The stock was sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the transaction, the executive vice president now directly owns 6,695 shares in the company, valued at approximately $4,785,786.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Yoram Rubanenko sold 2,500 shares of Costco Wholesale stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $680.33, for a total transaction of $1,700,825.00. Following the transaction, the vice president now directly owns 5,910 shares in the company, valued at approximately $4,020,750.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Claudine Adamo sold 1,500 shares of Costco Wholesale stock in a transaction on Monday, March 11th. The shares were sold at an average price of $714.83, for a total value of $1,072,245.00. Following the transaction, the executive vice president now owns 6,695 shares in the company, valued at $4,785,786.85. The disclosure for this sale can be found here. Insiders have sold a total of 13,442 shares of company stock worth $9,303,768 in the last three months. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Costco Wholesale

Hedge funds have recently modified their holdings of the stock. Richelieu Gestion SA purchased a new position in shares of Costco Wholesale during the fourth quarter valued at $25,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Costco Wholesale during the fourth quarter valued at $26,000. Frank Rimerman Advisors LLC purchased a new position in shares of Costco Wholesale during the fourth quarter valued at $26,000. Morton Brown Family Wealth LLC grew its stake in Costco Wholesale by 200.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after purchasing an additional 30 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Costco Wholesale in the fourth quarter valued at about $30,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

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.