Costco Wholesale Corporation (NASDAQ:COST) – Research analysts at Oppenheimer Holdings raised their Q3 2018 EPS estimates for shares of Costco Wholesale Corporation in a research report issued on Friday. Oppenheimer Holdings analyst B. Nagel now expects that the retailer will post earnings per share of $1.60 for the quarter, up from their prior forecast of $1.58. Oppenheimer Holdings has a “Buy” rating on the stock. Oppenheimer Holdings also issued estimates for Costco Wholesale Corporation’s Q4 2018 earnings at $2.10 EPS, FY2018 earnings at $6.42 EPS and FY2019 earnings at $7.10 EPS.
Costco Wholesale Corporation (NASDAQ:COST) last issued its quarterly earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.06. The company had revenue of $42.30 billion for the quarter, compared to analyst estimates of $41.55 billion. Costco Wholesale Corporation had a return on equity of 22.21% and a net margin of 2.08%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the company earned $1.77 earnings per share.
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Other research analysts have also issued reports about the company. Vetr lowered Costco Wholesale Corporation from a “buy” rating to a “hold” rating and set a $171.07 price target on the stock. in a report on Monday. Cowen and Company reissued an “outperform” rating on shares of Costco Wholesale Corporation in a report on Monday, July 24th. Stifel Nicolaus set a $173.00 price target on Costco Wholesale Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Wells Fargo & Company reissued a “hold” rating on shares of Costco Wholesale Corporation in a report on Thursday, August 3rd. Finally, Zacks Investment Research lowered Costco Wholesale Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Twelve research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $178.34.
Shares of Costco Wholesale Corporation (COST) traded down $1.12 on Monday, hitting $165.32. The stock had a trading volume of 670,487 shares, compared to its average volume of 3,580,000. The firm has a market capitalization of $72,510.00, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 2.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.99 and a quick ratio of 0.43. Costco Wholesale Corporation has a 52 week low of $142.11 and a 52 week high of $183.18.
Hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. raised its stake in shares of Costco Wholesale Corporation by 4.1% in the 1st quarter. Alliancebernstein L.P. now owns 3,248,905 shares of the retailer’s stock valued at $544,809,000 after acquiring an additional 129,106 shares in the last quarter. Mechanics Bank Trust Department raised its stake in shares of Costco Wholesale Corporation by 4.8% in the 2nd quarter. Mechanics Bank Trust Department now owns 33,556 shares of the retailer’s stock valued at $5,366,000 after acquiring an additional 1,529 shares in the last quarter. Cadinha & Co. LLC raised its stake in shares of Costco Wholesale Corporation by 7.3% in the 2nd quarter. Cadinha & Co. LLC now owns 124,642 shares of the retailer’s stock valued at $19,934,000 after acquiring an additional 8,518 shares in the last quarter. Stephens Inc. AR raised its stake in shares of Costco Wholesale Corporation by 3.1% in the 1st quarter. Stephens Inc. AR now owns 44,405 shares of the retailer’s stock valued at $7,446,000 after acquiring an additional 1,350 shares in the last quarter. Finally, Palo Capital Inc. raised its stake in shares of Costco Wholesale Corporation by 0.7% in the 2nd quarter. Palo Capital Inc. now owns 7,669 shares of the retailer’s stock valued at $1,227,000 after acquiring an additional 50 shares in the last quarter. 72.57% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Richard A. Galanti sold 5,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $160.58, for a total transaction of $802,900.00. Following the completion of the sale, the vice president now directly owns 41,396 shares of the company’s stock, valued at approximately $6,647,369.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard M. Libenson sold 2,350 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $162.00, for a total value of $380,700.00. Following the sale, the director now directly owns 4,109 shares of the company’s stock, valued at $665,658. The disclosure for this sale can be found here. Insiders have sold a total of 15,350 shares of company stock valued at $2,477,680 over the last ninety days. Company insiders own 0.74% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 16th. Costco Wholesale Corporation’s dividend payout ratio (DPR) is presently 32.89%.
About Costco Wholesale Corporation
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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