Equities analysts forecast that Costco Wholesale Co. (NASDAQ:COST) will report sales of $32.72 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Costco Wholesale’s earnings. The lowest sales estimate is $32.20 billion and the highest is $33.31 billion. Costco Wholesale reported sales of $29.77 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.9%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, March 7th.
On average, analysts expect that Costco Wholesale will report full-year sales of $32.72 billion for the current year, with estimates ranging from $136.59 billion to $140.72 billion. For the next year, analysts forecast that the company will report sales of $147.82 billion per share, with estimates ranging from $145.52 billion to $152.76 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Costco Wholesale.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, December 14th. The retailer reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Costco Wholesale had a net margin of 2.09% and a return on equity of 23.39%. The firm had revenue of $31.81 billion during the quarter, compared to the consensus estimate of $31.01 billion. During the same quarter last year, the firm earned $1.24 EPS. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis.
COST has been the subject of several recent research reports. Moffett Nathanson initiated coverage on shares of Costco Wholesale in a research report on Monday, December 4th. They issued a “buy” rating for the company. < JPMorgan Chase & Co. reissued a "buy" rating and issued a $200.00 price target on shares of Costco Wholesale in a research report on Monday, December 4th. Robert W. Baird reissued a "buy" rating on shares of Costco Wholesale in a research report on Friday, November 17th. Oppenheimer reissued a "buy" rating on shares of Costco Wholesale in a research report on Thursday, November 30th. Finally, Stifel Nicolaus raised their price target on shares of Costco Wholesale from $179.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, November 30th. Ten equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has an average rating of "Buy" and a consensus target price of $190.18.
In related news, insider Daniel M. Hines sold 5,000 shares of Costco Wholesale stock in a transaction on Monday, January 8th. The shares were sold at an average price of $188.62, for a total transaction of $943,100.00. Following the sale, the insider now directly owns 30,853 shares in the company, valued at approximately $5,819,492.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction on Friday, December 1st. The stock was sold at an average price of $183.26, for a total transaction of $549,780.00. Following the sale, the director now owns 8,654 shares in the company, valued at $1,585,932.04. The disclosure for this sale can be found here. Insiders have sold a total of 91,185 shares of company stock worth $17,408,817 over the last quarter. 0.58% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of COST. Vanguard Group Inc. increased its stake in shares of Costco Wholesale by 2.9% during the second quarter. Vanguard Group Inc. now owns 33,640,766 shares of the retailer’s stock worth $5,380,168,000 after acquiring an additional 937,121 shares during the period. BlackRock Inc. increased its stake in shares of Costco Wholesale by 2.9% during the second quarter. BlackRock Inc. now owns 24,905,256 shares of the retailer’s stock worth $3,983,097,000 after acquiring an additional 703,825 shares during the period. Capital World Investors increased its stake in shares of Costco Wholesale by 6.0% during the second quarter. Capital World Investors now owns 17,777,162 shares of the retailer’s stock worth $2,843,102,000 after acquiring an additional 1,007,720 shares during the period. Capital Research Global Investors increased its stake in shares of Costco Wholesale by 2.3% during the second quarter. Capital Research Global Investors now owns 9,281,245 shares of the retailer’s stock worth $1,484,350,000 after acquiring an additional 207,675 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Costco Wholesale by 14.4% during the third quarter. Bank of New York Mellon Corp now owns 6,805,874 shares of the retailer’s stock worth $1,118,138,000 after acquiring an additional 858,969 shares during the period. Institutional investors own 70.87% of the company’s stock.
Costco Wholesale (COST) opened at $188.12 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.43. Costco Wholesale has a 1 year low of $150.00 and a 1 year high of $199.88. The company has a market cap of $82,620.00, a P/E ratio of 29.91, a price-to-earnings-growth ratio of 3.13 and a beta of 0.99.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, February 15th. This represents a $2.00 annualized dividend and a yield of 1.06%. Costco Wholesale’s dividend payout ratio is currently 31.80%.
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Costco Wholesale Company Profile
Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.
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