Costco Wholesale (NASDAQ:COST) Issues Earnings Results

Costco Wholesale (NASDAQ:COST) posted its quarterly earnings results on Thursday. The retailer reported $4.34 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.10, Zacks reports. The business had revenue of $67.31 billion for the quarter, compared to the consensus estimate of $67.03 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. Costco Wholesale’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.04 earnings per share.

Costco Wholesale Price Performance

Shares of COST stock traded up $10.07 during trading hours on Thursday, hitting $884.48. The company had a trading volume of 3,024,473 shares, compared to its average volume of 2,286,961. Costco Wholesale has a 12 month low of $871.09 and a 12 month high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The firm’s fifty day moving average is $917.49 and its 200 day moving average is $952.44. The firm has a market capitalization of $392.67 billion, a price-to-earnings ratio of 48.57, a PEG ratio of 6.02 and a beta of 1.00.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, October 31st. Costco Wholesale’s payout ratio is presently 28.56%.

Insider Buying and Selling

In other news, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the sale, the executive vice president owned 9,740 shares of the company’s stock, valued at approximately $8,912,100. This represents a 25.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Claudine Adamo sold 2,700 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the sale, the executive vice president owned 6,851 shares of the company’s stock, valued at $6,410,343.68. This trade represents a 28.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,720 shares of company stock worth $9,010,257 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Costco Wholesale

Several large investors have recently added to or reduced their stakes in COST. Imprint Wealth LLC bought a new position in shares of Costco Wholesale in the third quarter valued at approximately $36,000. Graney & King LLC increased its holdings in Costco Wholesale by 6.8% during the 2nd quarter. Graney & King LLC now owns 173 shares of the retailer’s stock valued at $171,000 after purchasing an additional 11 shares in the last quarter. Wiser Advisor Group LLC bought a new position in Costco Wholesale in the 3rd quarter valued at $169,000. Redwood Financial Network Corp acquired a new position in Costco Wholesale in the second quarter worth $208,000. Finally, Zuckerman Investment Group LLC acquired a new position in Costco Wholesale in the second quarter worth $221,000. 68.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Costco Wholesale in a report on Monday. Wolfe Research started coverage on shares of Costco Wholesale in a report on Thursday, September 18th. They set a “peer perform” rating for the company. BTIG Research started coverage on Costco Wholesale in a research note on Tuesday, October 14th. They issued a “buy” rating and a $1,115.00 price objective on the stock. Daiwa Capital Markets decreased their target price on Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating for the company in a research note on Tuesday, September 30th. Finally, Mizuho lowered their target price on Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Nineteen investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,023.41.

About Costco Wholesale

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.