Brokers Set Expectations for Costco Wholesale Co.’s Q3 2024 Earnings (NASDAQ:COST)

Costco Wholesale Co. (NASDAQ:COST) – Analysts at Zacks Research raised their Q3 2024 earnings estimates for Costco Wholesale in a report released on Wednesday, March 27th. Zacks Research analyst S. Singh now anticipates that the retailer will earn $3.66 per share for the quarter, up from their prior forecast of $3.60. The consensus estimate for Costco Wholesale’s current full-year earnings is $15.78 per share. Zacks Research also issued estimates for Costco Wholesale’s Q4 2024 earnings at $4.90 EPS, FY2024 earnings at $15.96 EPS, Q2 2025 earnings at $3.92 EPS, Q3 2025 earnings at $4.03 EPS, Q4 2025 earnings at $5.31 EPS, FY2025 earnings at $17.00 EPS, Q1 2026 earnings at $4.02 EPS, Q2 2026 earnings at $4.23 EPS and FY2026 earnings at $18.31 EPS.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.09. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. 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 prior year, the business earned $3.30 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group raised their price target on shares of Costco Wholesale from $665.00 to $749.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Oppenheimer boosted their price target on shares of Costco Wholesale from $760.00 to $805.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Telsey Advisory Group increased their price target on shares of Costco Wholesale from $750.00 to $785.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Stifel Nicolaus upped their price objective on shares of Costco Wholesale from $615.00 to $675.00 and gave the stock a “buy” rating in a research report on Friday, December 15th. Finally, Loop Capital increased their price objective on shares of Costco Wholesale from $710.00 to $755.00 in a research note on Friday, January 19th. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $668.50.

Costco Wholesale Stock Performance

COST opened at $732.08 on Thursday. The firm’s fifty day simple moving average is $723.33 and its two-hundred day simple moving average is $641.98. The company has a quick ratio of 0.43, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. The company has a market cap of $324.68 billion, a price-to-earnings ratio of 47.88, a PEG ratio of 5.07 and a beta of 0.77. Costco Wholesale has a 52-week low of $476.75 and a 52-week high of $787.08.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 2nd were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Thursday, February 1st. Costco Wholesale’s payout ratio is presently 26.68%.

Insider Activity at Costco Wholesale

In other news, EVP Claudine Adamo sold 1,500 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 6,695 shares of the company’s stock, valued at $4,785,786.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Claudine Adamo sold 1,500 shares of Costco Wholesale stock in a transaction that occurred 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel M. Hines sold 1,400 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $662.30, for a total value of $927,220.00. Following the transaction, the insider now owns 13,922 shares of the company’s stock, valued at $9,220,540.60. The disclosure for this sale can be found here. Insiders have sold a total of 15,582 shares of company stock worth $10,736,778 over the last 90 days. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Costco Wholesale

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Richelieu Gestion SA purchased a new position in Costco Wholesale during the fourth quarter worth about $25,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $26,000. Frank Rimerman Advisors LLC bought a new position in Costco Wholesale in the 4th quarter valued at approximately $26,000. Morton Brown Family Wealth LLC lifted its position in Costco Wholesale by 200.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after acquiring an additional 30 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Costco Wholesale during the 4th quarter valued at $30,000. 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.