Costco Wholesale Co. (NASDAQ: COST) – Investment analysts at DA Davidson raised their earnings per share estimates for the fourth quarter of 2021 for Costco Wholesale in a report released on Friday, June 4. DA Davidson analyst Mr. Baker now predicts the retailer will post earnings of $ 3.55 per share for the quarter, up from its previous estimate of $ 3.54. DA Davidson is currently rated “Neutral” and has a target price of $ 350.00 on the stock. DA Davidson also released estimates for Costco Wholesale’s earnings for fiscal 2022 at $ 11.75 per share.
A number of other research analysts have also commented on the headline recently. Citigroup reduced its target price on Costco Wholesale shares from $ 380.00 to $ 360.00 and established a “neutral” rating on the share in a research report released on Friday, March 5. Robert W. Baird increased his target price on Costco Wholesale shares from $ 415.00 to $ 430.00 and gave the company an “outperformance” rating in a research report on Friday, May 28. The Goldman Sachs Group raised its price target for Costco Wholesale shares from $ 377.00 to $ 415.00 and gave the company a “buy” rating in a research report on Thursday, April 8. Deutsche Bank Aktiengesellschaft raised its price target for Costco Wholesale shares from $ 352.00 to $ 363.00 and gave the company a “conservation” rating in a research report published on Friday, May 28. Finally, Barclays raised its target price on Costco Wholesale shares from $ 400.00 to $ 450.00 and assigned the company an “overweight” rating in a research report published on Friday, May 28. They noted that the move was an appraisal call. Nine research analysts rated the stock with a conservation rating and eighteen gave the company’s stock a buy rating. The stock has an average rating of “Buy” and a consensus price target of $ 401.00.
COST shares opened at $ 387.52 on Monday. The company has a leverage ratio of 0.47, a current ratio of 0.99, and a quick ratio of 0.47. Costco Wholesale has a 12-month low of $ 293.84 and a 12-month high of $ 393.15. The company has a 50-day moving average price of $ 372.97. The stock has a market cap of $ 171.49 billion, a price / earnings ratio of 36.42, a P / E / G ratio of 4.06, and a beta of 0.65. Costco Wholesale (NASDAQ: COST) last reported its quarterly earnings data on Wednesday, May 26. The retailer reported earnings per share (EPS) of $ 2.75 for the quarter, beating the Zacks consensus estimate of $ 2.28 by $ 0.47. Costco Wholesale had a net margin of 2.53% and a return on equity of 27.41%. The company posted revenue of $ 44.38 billion in the quarter, compared to $ 43.82 billion according to analysts’ estimates. In the same quarter of the previous year, the company posted earnings per share of $ 1.89. Costco Wholesale’s quarterly revenue grew 21.8% year-over-year.
Institutional investors have recently changed their positions in the company. WESPAC Advisors SoCal LLC increased its stake in Costco Wholesale by 10.7% in the first quarter. WESPAC Advisors SoCal LLC now owns 3,323 shares of the retailer valued at $ 1,171,000 after purchasing an additional 322 shares in the last quarter. Ocean Capital Management LLC increased its stake in Costco Wholesale by 1.7% in the first quarter. Ocean Capital Management LLC now owns 55,808 shares of the retailer valued at $ 19,607,000 after purchasing an additional 955 shares in the last quarter. McCollum Christoferson Group LLC increased its stake in Costco Wholesale by 1.1% in the first quarter. McCollum Christoferson Group LLC now owns 28,092 shares of the retailer valued at $ 9,902,000 after purchasing an additional 308 shares in the last quarter. Brasada Capital Management LP increased its position in the shares of Costco Wholesale by 8.0% during the fourth quarter. Brasada Capital Management LP now owns 20,193 shares of the retailer valued at $ 7,608,000 after acquiring an additional 1,497 shares in the last quarter. Finally, Golden Green Inc. increased its position in the shares of Costco Wholesale by 43.4% during the first quarter. Golden Green Inc. now owns 2,013 shares of the retailer valued at $ 710,000 after acquiring an additional 609 shares in the last quarter. Institutional investors hold 65.57% of the shares of the company.
In related news, Vice President Roland Michael Vachris sold 4,300 shares of the company in a transaction that took place on Monday, March 22. The shares were sold for an average price of $ 334.30, for a total value of $ 1,437,490.00. Following the sale, the Vice President now owns 15,602 shares of the company, valued at $ 5,215,748.60. The sale was disclosed in a file with the SEC, which can be accessed through this hyperlink. Additionally, CFO Richard A. Galanti sold 2,230 shares of the company in a transaction that took place on Thursday, April 29. The shares were sold at an average price of $ 372.06, for a total trade of $ 829,693.80. Following the completion of the sale, the Chief Financial Officer now directly owns 22,871 shares of the Company, valued at approximately $ 8,509,384.26. Disclosure of this sale can be found here. 0.22% of the shares are held by insiders of the company.
The company also recently announced a quarterly dividend, which was paid on Friday, May 14. Investors of record on Friday April 30 received a dividend of $ 0.79. This is a boost from Costco Wholesale’s previous quarterly dividend of $ 0.70. The ex-dividend date of this dividend was Thursday April 29. This represents an annualized dividend of $ 3.16 and a return of 0.82%. Costco Wholesale’s dividend payout ratio (DPR) is 35.71%.
Costco Wholesale Corporation, along with its subsidiaries, operates member warehouses in the United States, Puerto Rico, Canada, 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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