DA Davidson Comments on Costco Wholesale Co.’s Q3 2022 Earnings (NASDAQ:COST)

Costco Wholesale Co. (NASDAQ:COSTGet Rating) – Research analysts at DA Davidson increased their Q3 2022 earnings per share (EPS) estimates for shares of Costco Wholesale in a research note issued to investors on Thursday, May 5th. DA Davidson analyst M. Baker now expects that the retailer will post earnings per share of $3.05 for the quarter, up from their prior forecast of $3.03. DA Davidson also issued estimates for Costco Wholesale’s FY2022 earnings at $12.72 EPS and FY2023 earnings at $13.77 EPS.

Several other brokerages have also commented on COST. Tigress Financial boosted their price objective on Costco Wholesale from $520.00 to $678.00 in a report on Thursday, April 14th. The Goldman Sachs Group increased their price target on shares of Costco Wholesale from $561.00 to $627.00 and gave the stock a “buy” rating in a report on Thursday, April 7th. StockNews.com started coverage on shares of Costco Wholesale in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Truist Financial upped their target price on shares of Costco Wholesale from $603.00 to $634.00 in a research report on Thursday, April 7th. Finally, Telsey Advisory Group raised their price target on Costco Wholesale from $610.00 to $615.00 and gave the company an “outperform” rating in a research report on Friday, March 4th. Six analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $576.79.

NASDAQ:COST opened at $517.32 on Friday. The business’s 50-day moving average price is $558.29 and its two-hundred day moving average price is $533.90. Costco Wholesale has a twelve month low of $371.11 and a twelve month high of $612.27. The stock has a market cap of $229.29 billion, a P/E ratio of 41.69, a PEG ratio of 4.46 and a beta of 0.70. The company has a quick ratio of 0.51, a current ratio of 1.03 and a debt-to-equity ratio of 0.33.

Costco Wholesale (NASDAQ:COSTGet Rating) last issued its quarterly earnings data on Thursday, March 3rd. The retailer reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.18. The company had revenue of $51.90 billion for the quarter, compared to the consensus estimate of $51.51 billion. Costco Wholesale had a return on equity of 30.10% and a net margin of 2.62%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 earnings per share.

A number of institutional investors and hedge funds have recently bought and sold shares of COST. KBC Group NV grew its position in shares of Costco Wholesale by 14.8% in the 1st quarter. KBC Group NV now owns 52,131 shares of the retailer’s stock worth $30,020,000 after buying an additional 6,731 shares during the period. GoalFusion Wealth Management LLC bought a new stake in Costco Wholesale during the first quarter worth about $223,000. Aire Advisors LLC grew its holdings in Costco Wholesale by 12.8% in the first quarter. Aire Advisors LLC now owns 521 shares of the retailer’s stock worth $300,000 after purchasing an additional 59 shares during the period. Aviance Capital Partners LLC increased its stake in shares of Costco Wholesale by 8.0% during the first quarter. Aviance Capital Partners LLC now owns 1,274 shares of the retailer’s stock valued at $734,000 after purchasing an additional 94 shares in the last quarter. Finally, Mirador Capital Partners LP lifted its holdings in shares of Costco Wholesale by 16.4% during the first quarter. Mirador Capital Partners LP now owns 696 shares of the retailer’s stock valued at $401,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 67.52% of the company’s stock.

In other news, insider Daniel M. Hines sold 4,498 shares of Costco Wholesale stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $603.00, for a total transaction of $2,712,294.00. Following the sale, the insider now owns 13,108 shares of the company’s stock, valued at approximately $7,904,124. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claudine Adamo sold 500 shares of the stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $602.03, for a total transaction of $301,015.00. Following the completion of the transaction, the executive vice president now directly owns 9,939 shares of the company’s stock, valued at $5,983,576.17. The disclosure for this sale can be found here. Insiders have sold a total of 9,248 shares of company stock valued at $5,417,137 in the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Friday, April 29th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Thursday, April 28th. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.79. Costco Wholesale’s payout ratio is currently 29.01%.

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.

Featured Stories

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

Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.