Costco Wholesale Co. (NASDAQ:COST) Expected to Earn Q2 2024 Earnings of $3.75 Per Share

Costco Wholesale Co. (NASDAQ:COSTFree Report) – Equities research analysts at DA Davidson raised their Q2 2024 earnings per share estimates for shares of Costco Wholesale in a research note issued on Thursday, February 8th. DA Davidson analyst M. Baker now forecasts that the retailer will post earnings per share of $3.75 for the quarter, up from their prior forecast of $3.73. DA Davidson currently has a “Neutral” rating and a $600.00 target price on the stock. The consensus estimate for Costco Wholesale’s current full-year earnings is $15.60 per share. DA Davidson also issued estimates for Costco Wholesale’s FY2025 earnings at $16.64 EPS.

Costco Wholesale (NASDAQ:COSTGet Free Report) last posted its quarterly earnings data on Thursday, December 14th. The retailer reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.07. Costco Wholesale had a return on equity of 27.44% and a net margin of 2.65%. The business had revenue of $57.80 billion during the quarter, compared to analysts’ expectations of $57.79 billion. During the same period in the previous year, the business earned $3.10 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of Costco Wholesale from $620.00 to $605.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. BMO Capital Markets lifted their price objective on Costco Wholesale from $612.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, December 15th. UBS Group increased their target price on Costco Wholesale from $640.00 to $725.00 and gave the company a “buy” rating in a report on Friday, December 15th. Truist Financial lifted their price target on Costco Wholesale from $693.00 to $741.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. Finally, Northcoast Research downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and set a $620.00 price objective for the company. in a research note on Wednesday, December 20th. Seven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $659.96.

Get Our Latest Stock Analysis on Costco Wholesale

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $724.16 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.60 and a current ratio of 1.09. The firm has a fifty day moving average of $667.20 and a 200 day moving average of $598.41. The firm has a market cap of $321.33 billion, a PE ratio of 49.36, a PEG ratio of 5.20 and a beta of 0.77. Costco Wholesale has a one year low of $465.33 and a one year high of $728.17.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Friday, February 2nd will be paid a dividend of $1.02 per share. The ex-dividend date is Thursday, February 1st. This represents a $4.08 annualized dividend and a yield of 0.56%. Costco Wholesale’s dividend payout ratio (DPR) is 27.81%.

Insider Buying and Selling at Costco Wholesale

In related news, Director W Craig Jelinek sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $685.93, for a total transaction of $5,487,440.00. Following the completion of the sale, the director now directly owns 216,212 shares of the company’s stock, valued at approximately $148,306,297.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Costco Wholesale 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 transaction of $505,790.00. Following the transaction, the executive vice president now directly owns 6,721 shares in the company, valued at $4,593,803.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Craig Jelinek sold 8,000 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $685.93, for a total value of $5,487,440.00. Following the transaction, the director now owns 216,212 shares of the company’s stock, valued at $148,306,297.16. The disclosure for this sale can be found here. Insiders have sold 13,752 shares of company stock worth $9,377,669 over the last quarter. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Costco Wholesale

Hedge funds have recently bought and sold shares of the company. United Bank grew its holdings in shares of Costco Wholesale by 9.2% in the first quarter. United Bank now owns 5,254 shares of the retailer’s stock valued at $3,026,000 after purchasing an additional 444 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Costco Wholesale by 33.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 383,691 shares of the retailer’s stock valued at $220,948,000 after buying an additional 96,566 shares during the period. Covestor Ltd grew its stake in shares of Costco Wholesale by 87.1% in the first quarter. Covestor Ltd now owns 232 shares of the retailer’s stock worth $134,000 after acquiring an additional 108 shares in the last quarter. Bridgefront Capital LLC purchased a new stake in shares of Costco Wholesale during the first quarter worth $333,000. Finally, Next Century Growth Investors LLC raised its stake in shares of Costco Wholesale by 0.9% in the first quarter. Next Century Growth Investors LLC now owns 3,414 shares of the retailer’s stock valued at $1,965,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 66.31% of the company’s stock.

About Costco Wholesale

(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.

Further Reading

Earnings History and Estimates for Costco Wholesale (NASDAQ:COST)

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