Q3 2024 Earnings Forecast for Costco Wholesale Co. Issued By DA Davidson (NASDAQ:COST)

Costco Wholesale Co. (NASDAQ:COST) – Equities researchers at DA Davidson lifted their Q3 2024 EPS estimates for shares of Costco Wholesale in a research note issued on Thursday, May 9th. DA Davidson analyst M. Baker now forecasts that the retailer will earn $3.34 per share for the quarter, up from their prior forecast of $3.33. DA Davidson has a “Neutral” rating and a $680.00 price target on the stock. The consensus estimate for Costco Wholesale’s current full-year earnings is $15.84 per share.

A number of other brokerages have also weighed in on COST. Wells Fargo & Company upped their price target on shares of Costco Wholesale from $610.00 to $675.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Evercore ISI increased their target price on shares of Costco Wholesale from $795.00 to $805.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Telsey Advisory Group reissued an “outperform” rating and set a $800.00 target price on shares of Costco Wholesale in a research note on Monday. Oppenheimer increased their target price on shares of Costco Wholesale from $760.00 to $805.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Finally, StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $694.48.

Costco Wholesale Trading Up 2.0 %

Shares of NASDAQ:COST opened at $779.04 on Friday. The company has a 50 day moving average of $731.53 and a 200-day moving average of $676.58. The firm has a market cap of $345.51 billion, a P/E ratio of 50.95, a P/E/G ratio of 4.95 and a beta of 0.77. Costco Wholesale has a twelve month low of $476.75 and a twelve month high of $787.08. The company has a current ratio of 0.93, a quick ratio of 0.43 and a debt-to-equity ratio of 0.28.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.09. The company had revenue of $58.44 billion during the quarter, compared to analyst estimates of $59.11 billion. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.30 EPS.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a dividend of $1.16 per share. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Thursday, April 25th. Costco Wholesale’s dividend payout ratio is currently 30.35%.

Insider Buying and Selling

In other Costco Wholesale news, EVP Claudine Adamo sold 1,500 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $714.83, for a total value of $1,072,245.00. Following the completion of the sale, the executive vice president now directly owns 6,695 shares of the company’s stock, valued at approximately $4,785,786.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Russell D. Miller sold 785 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $7,228,600. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Claudine Adamo sold 1,500 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the completion of the transaction, the executive vice president now owns 6,695 shares of the company’s stock, valued at approximately $4,785,786.85. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Costco Wholesale

A number of hedge funds have recently made changes to their positions in COST. Richelieu Gestion SA bought a new position in shares of Costco Wholesale in the 4th quarter valued at about $25,000. Frank Rimerman Advisors LLC bought a new position in Costco Wholesale during the 4th quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new position in Costco Wholesale during the 1st quarter worth approximately $32,000. Morton Brown Family Wealth LLC boosted its stake in Costco Wholesale by 200.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after acquiring an additional 30 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in Costco Wholesale during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.