Costco Wholesale (NASDAQ:COST) Posts Earnings Results, Beats Estimates By $0.03 EPS

Costco Wholesale (NASDAQ:COSTGet Rating) posted its quarterly earnings data on Thursday. The retailer reported $4.20 earnings per share for the quarter, topping the consensus estimate of $4.17 by $0.03, Briefing.com reports. The company had revenue of $72.09 billion during the quarter, compared to analysts’ expectations of $72 billion. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. Costco Wholesale’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.90 earnings per share.

Costco Wholesale Stock Down 1.2 %

COST opened at $487.17 on Friday. The business’s fifty day simple moving average is $529.73 and its 200 day simple moving average is $519.85. Costco Wholesale has a 52 week low of $406.51 and a 52 week high of $612.27. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The stock has a market cap of $215.80 billion, a PE ratio of 38.36, a P/E/G ratio of 3.72 and a beta of 0.70.

Costco Wholesale Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date was Thursday, July 28th. Costco Wholesale’s dividend payout ratio is currently 28.35%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Truist Financial upped their price objective on shares of Costco Wholesale from $543.00 to $571.00 in a report on Thursday, August 4th. BMO Capital Markets reiterated a “buy” rating and issued a $580.00 target price on shares of Costco Wholesale in a research note on Monday, May 30th. StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, July 15th. Citigroup boosted their price objective on Costco Wholesale from $510.00 to $545.00 in a research note on Thursday, August 4th. Finally, The Goldman Sachs Group increased their target price on shares of Costco Wholesale from $516.00 to $573.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $575.36.

Insider Buying and Selling at Costco Wholesale

In other news, CFO Richard A. Galanti sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $505.60, for a total value of $505,600.00. Following the completion of the transaction, the chief financial officer now directly owns 25,750 shares in the company, valued at approximately $13,019,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Richard A. Galanti sold 1,000 shares of Costco Wholesale stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $505.60, for a total value of $505,600.00. Following the transaction, the chief financial officer now owns 25,750 shares in the company, valued at approximately $13,019,200. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP James P. Murphy sold 1,500 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total transaction of $787,800.00. Following the sale, the vice president now owns 36,230 shares of the company’s stock, valued at $19,027,996. The disclosure for this sale can be found here. Insiders have sold 2,800 shares of company stock worth $1,449,904 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Costco Wholesale

A number of large investors have recently bought and sold shares of COST. Worth Asset Management LLC purchased a new stake in shares of Costco Wholesale during the first quarter valued at approximately $76,000. KB Financial Partners LLC grew its holdings in Costco Wholesale by 455.2% in the 1st quarter. KB Financial Partners LLC now owns 161 shares of the retailer’s stock worth $93,000 after acquiring an additional 132 shares during the last quarter. Covestor Ltd increased its position in shares of Costco Wholesale by 87.1% in the first quarter. Covestor Ltd now owns 232 shares of the retailer’s stock valued at $134,000 after acquiring an additional 108 shares during the period. Saxon Interests Inc. bought a new position in shares of Costco Wholesale during the first quarter valued at about $223,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Costco Wholesale during the first quarter worth about $284,000. 66.83% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Company Profile

(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.

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Earnings History for Costco Wholesale (NASDAQ:COST)

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