The Costco Wholesale Co. (COST) Expected to Announce Quarterly Sales of $28.62 Billion

The Costco Wholesale Co. (COST) Expected to Announce Quarterly Sales of $28.62 Billion

According to Zacks, analysts expect that Costco Wholesale will report full year sales of $28.62 billion for the current year, with estimates ranging from $125.91 billion to $128.23 billion. For the next fiscal year, analysts expect that the company will report sales of $134.55 billion per share, with estimates ranging from $132.89 billion to $137.29 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Costco Wholesale.

Wall Street analysts expect that Costco Wholesale Co. (NASDAQ:COST) will report $28.62 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Costco Wholesale’s earnings. The lowest sales estimate is $28.44 billion and the highest is $28.87 billion. Costco Wholesale posted sales of $26.77 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.9%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Thursday, May 25th.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, March 2nd. The retailer reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by $0.19. Costco Wholesale had a return on equity of 20.06% and a net margin of 2.02%. The business had revenue of $29.77 billion during the quarter, compared to the consensus estimate of $29.75 billion. During the same quarter last year, the firm earned $1.24 earnings per share. The business’s quarterly revenue was up 5.7% on a year-over-year basis. COST has been the subject of several recent analyst reports. Credit Suisse Group AG restated a “buy” rating and set a $175.00 price objective on shares of Costco Wholesale in a research report on Sunday, February 5th. Robert W. Baird restated an “outperform” rating and set a $180.00 price objective on shares of Costco Wholesale in a research report on Thursday, February 2nd. Barclays PLC set a $158.00 price objective on shares of Costco Wholesale and gave the stock a “hold” rating in a research report on Monday, February 27th. Goldman Sachs Group Inc restated a “conviction-buy” rating and set a $187.00 price objective on shares of Costco Wholesale in a research report on Saturday, January 21st. Finally, Susquehanna Bancshares Inc initiated coverage on shares of Costco Wholesale in a research report on Friday, February 10th. They set a “positive” rating and a $195.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $179.70.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, March 2nd. The retailer reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by $0.19. Costco Wholesale had a return on equity of 20.06% and a net margin of 2.02%. The business had revenue of $29.77 billion during the quarter, compared to the consensus estimate of $29.75 billion. During the same quarter last year, the firm earned $1.24 earnings per share. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Costco Wholesale (NASDAQ:COST) traded down 0.33% during mid-day trading on Wednesday, hitting $171.00. 1,129,191 shares of the stock were exchanged. Costco Wholesale has a 52-week low of $138.57 and a 52-week high of $183.18. The stock’s 50 day moving average is $171.87 and its 200 day moving average is $164.21. The stock has a market cap of $75.06 billion, a PE ratio of 31.54 and a beta of 0.89.

The business also recently disclosed a special dividend, which will be paid on Friday, May 26th. Shareholders of record on Wednesday, May 10th will be issued a dividend of $7.00 per share. The ex-dividend date is Wednesday, May 10th. This represents a yield of 1.13%. This is a boost from Costco Wholesale’s previous special dividend of $0.45. Costco Wholesale’s dividend payout ratio (DPR) is presently 32.79%. In other Costco Wholesale news, Director James D. Sinegal sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $166.35, for a total transaction of $16,635,000.00. Following the sale, the director now owns 717,296 shares of the company’s stock, valued at $119,322,189.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy L. Rose sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $166.95, for a total transaction of $667,800.00. Following the sale, the vice president now directly owns 44,049 shares in the company, valued at approximately $7,353,980.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,000 shares of company stock worth $20,099,640. 0.74% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in COST. Mercer Capital Advisers Inc. boosted its position in shares of Costco Wholesale by 43.4% in the first quarter. Mercer Capital Advisers Inc. now owns 664 shares of the retailer’s stock worth $111,000 after buying an additional 201 shares during the last quarter. Mosaic Family Wealth LLC boosted its position in shares of Costco Wholesale by 16.7% in the first quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock worth $117,000 after buying an additional 100 shares during the last quarter. CKW Financial Group boosted its position in shares of Costco Wholesale by 33.1% in the first quarter. CKW Financial Group now owns 804 shares of the retailer’s stock worth $135,000 after buying an additional 200 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in shares of Costco Wholesale by 142.1% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 920 shares of the retailer’s stock worth $154,000 after buying an additional 540 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its position in shares of Costco Wholesale by 2.3% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 972 shares of the retailer’s stock worth $163,000 after buying an additional 22 shares during the last quarter. 73.12% of the stock is currently owned by institutional investors and hedge funds. About Costco Wholesale

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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