FY2024 EPS Estimates for Costco Wholesale Co. (NASDAQ:COST) Increased by William Blair

Costco Wholesale Co. (NASDAQ:COST) – Equities researchers at William Blair lifted their FY2024 earnings estimates for Costco Wholesale in a research report issued on Wednesday, August 7th. William Blair analyst P. Blee now expects that the retailer will post earnings of $16.00 per share for the year, up from their prior estimate of $15.79. The consensus estimate for Costco Wholesale’s current full-year earnings is $15.97 per share.

Several other equities analysts also recently issued reports on the stock. Robert W. Baird increased their price objective on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target on the stock in a research note on Thursday, August 8th. Stifel Nicolaus boosted their price objective on Costco Wholesale from $900.00 to $950.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Oppenheimer decreased their price objective on Costco Wholesale from $950.00 to $925.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $925.00 target price on shares of Costco Wholesale in a report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $824.50.

Costco Wholesale Trading Up 0.1 %

Shares of NASDAQ:COST opened at $864.82 on Monday. The firm has a market capitalization of $383.40 billion, a price-to-earnings ratio of 53.58, a price-to-earnings-growth ratio of 5.49 and a beta of 0.78. The business’s 50 day moving average price is $846.68 and its 200-day moving average price is $779.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale has a 1 year low of $530.56 and a 1 year high of $896.67.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.70 by $0.08. The company had revenue of $58.52 billion during the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. Costco Wholesale’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.43 EPS.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a $1.16 dividend. The ex-dividend date was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a yield of 0.54%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Insider Buying and Selling

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The disclosure for this sale can be found here. Insiders sold 3,350 shares of company stock valued at $2,837,131 in the last three months. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Costco Wholesale

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Oak Asset Management LLC boosted its stake in Costco Wholesale by 0.3% in the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after acquiring an additional 12 shares in the last quarter. Peddock Capital Advisors LLC boosted its holdings in shares of Costco Wholesale by 0.7% in the second quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after acquiring an additional 12 shares in the last quarter. Bedel Financial Consulting Inc. increased its stake in shares of Costco Wholesale by 1.3% during the first quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock worth $729,000 after acquiring an additional 13 shares during the period. Boltwood Capital Management raised its holdings in Costco Wholesale by 1.7% during the second quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock worth $671,000 after purchasing an additional 13 shares in the last quarter. Finally, LifePro Asset Management lifted its position in Costco Wholesale by 3.8% in the second quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock valued at $304,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

About Costco Wholesale

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.