Brokerages predict that Costco Wholesale Corporation (NASDAQ:COST) will post $41.68 billion in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Costco Wholesale Corporation’s earnings, with the highest sales estimate coming in at $42.52 billion and the lowest estimate coming in at $41.10 billion. Costco Wholesale Corporation reported sales of $36.56 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 14%. The business is expected to announce its next quarterly earnings results after the market closes on Thursday, October 5th.
According to Zacks, analysts expect that Costco Wholesale Corporation will report full-year sales of $41.68 billion for the current year, with estimates ranging from $126.24 billion to $129.24 billion. For the next fiscal year, analysts expect that the business will post sales of $135.39 billion per share, with estimates ranging from $133.86 billion to $138.81 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Costco Wholesale Corporation.
Several analysts recently issued reports on the company. Wells Fargo & Company reiterated a “hold” rating on shares of Costco Wholesale Corporation in a report on Friday, May 26th. UBS AG upgraded Costco Wholesale Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, June 26th. Sanford C. Bernstein reiterated a “hold” rating on shares of Costco Wholesale Corporation in a report on Thursday, July 6th. Morgan Stanley increased their price target on Costco Wholesale Corporation from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, May 31st. Finally, Barclays PLC reiterated an “overweight” rating and issued a $190.00 price target (up from $185.00) on shares of Costco Wholesale Corporation in a report on Sunday, May 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $179.35.
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In other Costco Wholesale Corporation news, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $157.59, for a total value of $157,590.00. Following the transaction, the director now owns 6,974 shares of the company’s stock, valued at $1,099,032.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 3,000 shares of company stock worth $477,120 in the last three months. 0.74% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Delta Asset Management LLC TN raised its holdings in shares of Costco Wholesale Corporation by 11.6% during the second quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock valued at $100,000 after buying an additional 65 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in shares of Costco Wholesale Corporation during the second quarter valued at approximately $101,000. Northwest Investment Counselors LLC bought a new stake in shares of Costco Wholesale Corporation during the second quarter valued at approximately $107,000. Mercer Capital Advisers Inc. raised its holdings in shares of Costco Wholesale Corporation by 3.5% during the second quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after buying an additional 23 shares during the last quarter. Finally, Mosaic Family Wealth LLC raised its holdings in shares of Costco Wholesale Corporation by 16.7% during the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock valued at $117,000 after buying an additional 100 shares during the last quarter. 72.50% of the stock is currently owned by hedge funds and other institutional investors.
Costco Wholesale Corporation (NASDAQ COST) opened at 157.36 on Tuesday. The firm has a market capitalization of $69.02 billion, a PE ratio of 27.32 and a beta of 0.93. The company’s 50-day moving average price is $156.46 and its 200 day moving average price is $165.78. Costco Wholesale Corporation has a 1-year low of $142.11 and a 1-year high of $183.18.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were issued a $0.50 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.27%. This is a boost from Costco Wholesale Corporation’s previous quarterly dividend of $0.45. Costco Wholesale Corporation’s dividend payout ratio (DPR) is currently 34.66%.
Costco Wholesale Corporation 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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