FY2024 Earnings Forecast for Costco Wholesale Co. Issued By Telsey Advisory Group (NASDAQ:COST)

Costco Wholesale Co. (NASDAQ:COST) – Stock analysts at Telsey Advisory Group reduced their FY2024 EPS estimates for shares of Costco Wholesale in a research report issued on Wednesday, April 10th. Telsey Advisory Group analyst J. Feldman now expects that the retailer will post earnings per share of $15.69 for the year, down from their previous estimate of $15.89. Telsey Advisory Group has a “Outperform” rating and a $800.00 price objective on the stock. The consensus estimate for Costco Wholesale’s current full-year earnings is $15.84 per share. Telsey Advisory Group also issued estimates for Costco Wholesale’s Q4 2024 earnings at $5.01 EPS, Q1 2025 earnings at $3.83 EPS, Q2 2025 earnings at $4.08 EPS, Q3 2025 earnings at $4.02 EPS, Q4 2025 earnings at $5.66 EPS and FY2025 earnings at $17.60 EPS.

Several other research analysts also recently commented on COST. Gordon Haskett downgraded shares of Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 price objective for the company. in a report on Wednesday, April 3rd. Loop Capital lowered their price objective on shares of Costco Wholesale from $830.00 to $820.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. StockNews.com cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Evercore ISI lifted their target price on shares of Costco Wholesale from $795.00 to $805.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company raised their price target on shares of Costco Wholesale from $610.00 to $675.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $691.28.

Costco Wholesale Stock Down 0.3 %

Costco Wholesale stock opened at $715.97 on Monday. Costco Wholesale has a twelve month low of $476.75 and a twelve month high of $787.08. The firm has a 50 day moving average price of $730.92 and a 200-day moving average price of $658.84. The company has a market capitalization of $317.53 billion, a P/E ratio of 46.83, a P/E/G ratio of 4.87 and a beta of 0.77. The company has a quick ratio of 0.43, a current ratio of 0.93 and a debt-to-equity ratio of 0.28.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 EPS for the quarter, beating the consensus estimate of $3.62 by $0.09. The firm 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 company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $3.30 EPS.

Hedge Funds Weigh In On Costco Wholesale

A number of hedge funds have recently modified their holdings of COST. Richelieu Gestion SA acquired a new stake in Costco Wholesale in the fourth quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new stake in Costco Wholesale in the fourth quarter valued at $26,000. Morton Brown Family Wealth LLC lifted its holdings in Costco Wholesale by 200.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after acquiring an additional 30 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in shares of Costco Wholesale during the 4th quarter worth $30,000. Finally, Aspect Partners LLC acquired a new position in shares of Costco Wholesale during the 4th quarter worth $31,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Costco Wholesale

In other news, Director Susan L. Decker sold 1,442 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $723.48, for a total transaction of $1,043,258.16. Following the sale, the director now owns 12,395 shares of the company’s stock, valued at $8,967,534.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Costco Wholesale news, EVP Claudine Adamo sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 6,695 shares in the company, valued at $4,785,786.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Decker sold 1,442 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $723.48, for a total transaction of $1,043,258.16. Following the transaction, the director now owns 12,395 shares in the company, valued at $8,967,534.60. The disclosure for this sale can be found here. Insiders have sold 13,442 shares of company stock valued at $9,303,768 over the last 90 days. 0.18% of the stock is owned by insiders.

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a $1.16 dividend. The ex-dividend date is Thursday, April 25th. This represents a $4.64 dividend on an annualized basis and a yield of 0.65%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio is presently 26.68%.

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.