Costco Wholesale (NASDAQ:COST) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Costco Wholesale (NASDAQ:COSTGet Rating) posted its 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. The company had revenue of $52.60 billion for the quarter, compared to analysts’ expectations of $51.49 billion. Costco Wholesale had a return on equity of 30.10% and a net margin of 2.62%. Costco Wholesale’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period last year, the firm earned $2.75 earnings per share.

Shares of COST stock opened at $464.99 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 0.33. Costco Wholesale has a 12-month low of $375.50 and a 12-month high of $612.27. The stock has a market capitalization of $206.09 billion, a P/E ratio of 37.47, a P/E/G ratio of 3.56 and a beta of 0.70. The firm’s 50 day moving average is $538.45 and its 200 day moving average is $531.41.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were given a dividend of $0.90 per share. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Thursday, April 28th. This represents a $3.60 dividend on an annualized basis and a yield of 0.77%. Costco Wholesale’s dividend payout ratio is 29.01%.

In other Costco Wholesale news, Director Kenneth D. Denman sold 250 shares of the company’s stock in a transaction that occurred on Wednesday, March 23rd. The shares were sold at an average price of $554.67, for a total transaction of $138,667.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Timothy L. Rose sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $566.29, for a total value of $2,265,160.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,248 shares of company stock valued at $5,417,137. Company insiders own 0.22% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Morgan Stanley boosted its stake in shares of Costco Wholesale by 1.5% in the second quarter. Morgan Stanley now owns 6,185,105 shares of the retailer’s stock worth $2,447,261,000 after acquiring an additional 91,694 shares during the period. Heritage Wealth Advisors grew its holdings in Costco Wholesale by 4.6% during the 4th quarter. Heritage Wealth Advisors now owns 2,267 shares of the retailer’s stock valued at $1,287,000 after buying an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $389,000. Barclays PLC lifted its holdings in shares of Costco Wholesale by 47.5% in the fourth quarter. Barclays PLC now owns 1,446,526 shares of the retailer’s stock worth $821,194,000 after buying an additional 465,780 shares in the last quarter. Finally, Flow Traders U.S. LLC bought a new position in shares of Costco Wholesale during the fourth quarter worth $299,000. 67.52% of the stock is currently owned by institutional investors and hedge funds.

COST has been the topic of a number of recent analyst reports. Telsey Advisory Group cut their price objective on Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating on the stock in a research report on Friday. Truist Financial cut their price target on shares of Costco Wholesale from $634.00 to $503.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. Tigress Financial upped their price objective on shares of Costco Wholesale from $520.00 to $678.00 in a report on Thursday, April 14th. The Goldman Sachs Group lifted their target price on shares of Costco Wholesale from $561.00 to $627.00 and gave the company a “buy” rating in a research note on Thursday, April 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Costco Wholesale from $530.00 to $525.00 in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $560.96.

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.

See Also

Earnings History for Costco Wholesale (NASDAQ:COST)

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