$35.65 Billion in Sales Expected for Costco Wholesale Co. (COST) This Quarter
Wall Street brokerages expect that Costco Wholesale Co. (NASDAQ:COST) will announce sales of $35.65 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Costco Wholesale’s earnings, with estimates ranging from $35.37 billion to $36.11 billion. Costco Wholesale reported sales of $33.00 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 8%. The business is expected to announce its next earnings results after the market closes on Thursday, March 7th.
On average, analysts expect that Costco Wholesale will report full-year sales of $152.81 billion for the current financial year, with estimates ranging from $150.29 billion to $154.76 billion. For the next financial year, analysts forecast that the company will report sales of $162.90 billion, with estimates ranging from $158.13 billion to $166.81 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Costco Wholesale.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, December 13th. The retailer reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.01). The company had revenue of $34.31 billion during the quarter, compared to analysts’ expectations of $34.66 billion. Costco Wholesale had a net margin of 2.25% and a return on equity of 24.54%. Costco Wholesale’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $1.45 earnings per share.
In other Costco Wholesale news, Director Susan L. Decker sold 739 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $205.00, for a total transaction of $151,495.00. Following the completion of the transaction, the director now owns 52,249 shares in the company, valued at approximately $10,711,045. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan L. Decker sold 1,611 shares of the business’s stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $206.15, for a total transaction of $332,107.65. Following the transaction, the director now owns 51,389 shares of the company’s stock, valued at approximately $10,593,842.35. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of COST. Oregon Public Employees Retirement Fund grew its holdings in Costco Wholesale by 20,897.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,652,688 shares of the retailer’s stock worth $165,000 after acquiring an additional 33,492,419 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Costco Wholesale by 55,048.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,504,928 shares of the retailer’s stock valued at $1,292,998,000 after buying an additional 5,494,946 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Costco Wholesale by 258.8% in the 3rd quarter. AQR Capital Management LLC now owns 2,125,078 shares of the retailer’s stock valued at $499,138,000 after buying an additional 1,532,770 shares in the last quarter. FMR LLC boosted its holdings in shares of Costco Wholesale by 13.5% in the 2nd quarter. FMR LLC now owns 10,570,895 shares of the retailer’s stock valued at $2,209,107,000 after buying an additional 1,256,873 shares in the last quarter. Finally, Capital World Investors boosted its holdings in shares of Costco Wholesale by 12.0% in the 3rd quarter. Capital World Investors now owns 9,908,138 shares of the retailer’s stock valued at $2,327,223,000 after buying an additional 1,064,167 shares in the last quarter. Institutional investors own 78.27% of the company’s stock.
Shares of Costco Wholesale stock traded up $2.63 on Wednesday, reaching $216.47. The company had a trading volume of 2,635,500 shares, compared to its average volume of 2,175,372. The company has a market capitalization of $95.35 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Costco Wholesale has a 52-week low of $180.83 and a 52-week high of $245.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.48 and a current ratio of 1.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 22nd. Investors of record on Friday, February 8th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Thursday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is currently 33.38%.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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