Costco Wholesale (NASDAQ:COST) Issues Quarterly Earnings Results

Costco Wholesale (NASDAQ:COSTGet Rating) posted its quarterly earnings results on Thursday. The retailer reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.03 by $0.01, MarketWatch Earnings reports. Costco Wholesale had a net margin of 2.62% and a return on equity of 30.10%. The firm had revenue of $52.60 billion for the quarter, compared to analyst estimates of $51.49 billion. During the same period in the prior year, the firm posted $2.75 earnings per share. The company’s quarterly revenue was up 18.5% compared to the same quarter last year.

COST opened at $470.76 on Friday. The company’s 50 day moving average is $536.64 and its 200-day moving average is $531.14. Costco Wholesale has a 1-year low of $375.50 and a 1-year high of $612.27. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 0.33. The company has a market cap of $208.65 billion, a P/E ratio of 37.93, a PEG ratio of 3.56 and a beta of 0.70.

The business also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, April 29th were paid a $0.90 dividend. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.79. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, April 28th. Costco Wholesale’s dividend payout ratio (DPR) is presently 29.01%.

In related news, VP Timothy L. Rose sold 4,000 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $566.29, for a total transaction of $2,265,160.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel M. Hines sold 4,498 shares of Costco Wholesale stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $603.00, for a total transaction of $2,712,294.00. Following the sale, the insider now owns 13,108 shares in the company, valued at $7,904,124. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,248 shares of company stock worth $5,417,137. 0.22% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Wall Street Access Asset Management LLC raised 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 purchasing an additional 56 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in Costco Wholesale by 21.0% during the 1st quarter. Wealthfront Advisers LLC now owns 53,052 shares of the retailer’s stock worth $30,549,000 after purchasing an additional 9,216 shares during the last quarter. united american securities inc. d b a uas asset management raised its holdings in Costco Wholesale by 141.6% during the 1st quarter. united american securities inc. d b a uas asset management now owns 30,231 shares of the retailer’s stock worth $17,409,000 after purchasing an additional 17,716 shares during the last quarter. Continuum Advisory LLC raised its holdings in Costco Wholesale by 71.3% during the 1st quarter. Continuum Advisory LLC now owns 5,198 shares of the retailer’s stock worth $2,764,000 after purchasing an additional 2,163 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. raised its holdings in Costco Wholesale by 5.7% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 2,766 shares of the retailer’s stock worth $1,593,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 67.52% of the company’s stock.

COST has been the topic of several analyst reports. Evercore ISI upped their price target on shares of Costco Wholesale from $605.00 to $610.00 in a research report on Thursday, April 7th. Oppenheimer dropped their price objective on shares of Costco Wholesale from $645.00 to $500.00 and set an “outperform” rating on the stock in a research report on Friday, May 20th. Stifel Nicolaus increased their price objective on shares of Costco Wholesale from $555.00 to $565.00 in a research report on Thursday, May 5th. Citigroup dropped their price objective on shares of Costco Wholesale from $590.00 to $510.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Truist Financial increased their price objective on shares of Costco Wholesale from $503.00 to $543.00 and gave the company a “buy” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $562.39.

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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