Costco Wholesale Co. (NASDAQ:COST – Get Rating) – Equities researchers at Oppenheimer upped their Q3 2022 earnings per share estimates for shares of Costco Wholesale in a research report issued on Friday, May 20th. Oppenheimer analyst R. Parikh now forecasts that the retailer will earn $2.99 per share for the quarter, up from their prior estimate of $2.95. Oppenheimer currently has a “Outperform” rating and a $500.00 target price on the stock.
Costco Wholesale (NASDAQ:COST – Get Rating) last announced its quarterly earnings results on Thursday, March 3rd. The retailer reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.18. The firm had revenue of $51.90 billion during the quarter, compared to analysts’ expectations of $51.51 billion. Costco Wholesale had a net margin of 2.62% and a return on equity of 30.10%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.14 earnings per share.
Shares of COST opened at $416.43 on Monday. The stock has a market cap of $184.57 billion, a price-to-earnings ratio of 33.56, a P/E/G ratio of 3.56 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 has a 12 month low of $375.50 and a 12 month high of $612.27. The company has a 50-day moving average price of $547.00 and a two-hundred day moving average price of $533.57.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Close Asset Management Ltd acquired a new position in shares of Costco Wholesale during the 4th quarter worth approximately $164,500,000. Poplar Forest Capital LLC grew its position in shares of Costco Wholesale by 5.2% during the 4th quarter. Poplar Forest Capital LLC now owns 526 shares of the retailer’s stock worth $299,000 after purchasing an additional 26 shares in the last quarter. Worldquant Millennium Advisors LLC grew its position in shares of Costco Wholesale by 132.4% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 6,058 shares of the retailer’s stock worth $2,722,000 after purchasing an additional 3,451 shares in the last quarter. Profund Advisors LLC grew its position in shares of Costco Wholesale by 4.2% during the 3rd quarter. Profund Advisors LLC now owns 48,188 shares of the retailer’s stock worth $21,653,000 after purchasing an additional 1,957 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC grew its position in shares of Costco Wholesale by 6.2% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 1,599 shares of the retailer’s stock worth $908,000 after purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds own 67.52% of the company’s stock.
In other news, Director Kenneth D. Denman sold 250 shares of the business’s stock in a transaction dated Wednesday, March 23rd. The shares were sold at an average price of $554.67, for a total transaction of $138,667.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Claudine Adamo sold 500 shares of the company’s stock in a transaction dated Friday, April 8th. The shares were 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 owns 9,939 shares in the company, valued at approximately $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 worth $5,417,137 over the last three months. Insiders own 0.22% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, April 29th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, April 28th. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.79. This represents a $3.60 annualized dividend and a yield of 0.86%. Costco Wholesale’s payout ratio is 29.01%.
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.
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