Telsey Advisory Group Research Analysts Raise Earnings Estimates for Costco Wholesale Co. (NASDAQ:COST)

Costco Wholesale Co. (NASDAQ:COST – Free Report) – Analysts at Telsey Advisory Group boosted their Q3 2024 earnings per share estimates for shares of Costco Wholesale in a research note issued on Wednesday, April 10th. Telsey Advisory Group analyst J. Feldman now anticipates that the retailer will post earnings of $3.71 per share for the quarter, up from their prior estimate of $3.70. 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 $15.81 per share.

Costco Wholesale (NASDAQ:COST – Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The retailer reported $3.71 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.09. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The firm had revenue of $58.44 billion for the quarter, compared to analyst estimates of $59.11 billion. During the same quarter in the previous year, the company posted $3.30 EPS. The business’s revenue was up 5.7% on a year-over-year basis.

A number of other research analysts also recently weighed in on the company. Roth Mkm upped their price target on Costco Wholesale from $601.00 to $650.00 and gave the stock a “neutral” rating in a research note on Thursday. Truist Financial increased their price objective on Costco Wholesale from $693.00 to $741.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. Stifel Nicolaus increased their price objective on Costco Wholesale from $615.00 to $675.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. Oppenheimer increased their price objective on Costco Wholesale from $760.00 to $805.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Finally, Loop Capital lowered their price objective on Costco Wholesale from $830.00 to $820.00 and set a “buy” rating for the company in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus target price of $691.28.

Check Out Our Latest Research Report on Costco Wholesale

Costco Wholesale Stock Down 0.1 %

Shares of NASDAQ:COST opened at $731.31 on Friday. The company has a market capitalization of $324.34 billion, a price-to-earnings ratio of 47.83, a P/E/G ratio of 5.00 and a beta of 0.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.43. The business’s 50-day moving average is $730.68 and its 200-day moving average is $655.35. Costco Wholesale has a 1 year low of $476.75 and a 1 year high of $787.08.

Institutional Investors Weigh In On Costco Wholesale

A number of institutional investors have recently bought and sold shares of COST. Enterprise Financial Services Corp raised its stake in shares of Costco Wholesale by 1.6% in the 4th quarter. Enterprise Financial Services Corp now owns 892 shares of the retailer’s stock valued at $589,000 after purchasing an additional 14 shares in the last quarter. Howard Financial Services LTD. raised its stake in shares of Costco Wholesale by 1.8% in the 4th quarter. Howard Financial Services LTD. now owns 870 shares of the retailer’s stock valued at $574,000 after purchasing an additional 15 shares in the last quarter. First National Corp MA ADV raised its stake in shares of Costco Wholesale by 0.5% in the 4th quarter. First National Corp MA ADV now owns 3,098 shares of the retailer’s stock valued at $2,045,000 after purchasing an additional 15 shares in the last quarter. Morton Capital Management LLC CA raised its stake in Costco Wholesale by 1.0% during the fourth quarter. Morton Capital Management LLC CA now owns 1,564 shares of the retailer’s stock worth $1,032,000 after acquiring an additional 15 shares during the period. Finally, Insight Advisors LLC PA raised its stake in Costco Wholesale by 0.6% during the fourth quarter. Insight Advisors LLC PA now owns 2,736 shares of the retailer’s stock worth $1,807,000 after acquiring an additional 15 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In related news, VP Yoram Rubanenko sold 2,500 shares of the company’s 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 completion of the sale, the vice president now owns 5,910 shares in the company, valued at $4,020,750.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Caton Frates sold 740 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $683.50, for a total value of $505,790.00. Following the completion of the sale, the executive vice president now directly owns 6,721 shares in the company, valued at approximately $4,593,803.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Yoram Rubanenko sold 2,500 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $680.33, for a total value of $1,700,825.00. Following the completion of 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. In the last three months, insiders have sold 14,182 shares of company stock valued at $9,809,558. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Thursday, April 25th. 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 0.63%. Costco Wholesale’s dividend payout ratio is 26.68%.

Costco Wholesale Company Profile

(Get Free Report)

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.

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