$41.47 Billion in Sales Expected for Costco Wholesale Co. (COST) This Quarter

Equities analysts predict that Costco Wholesale Co. (NASDAQ:COST) will post $41.47 billion in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Costco Wholesale’s earnings, with the lowest sales estimate coming in at $40.54 billion and the highest estimate coming in at $42.52 billion. Costco Wholesale reported sales of $36.56 billion in the same quarter last year, which would suggest a positive year over year growth rate of 13.4%. The company is scheduled to issue its next quarterly earnings results after the market closes on Thursday, October 5th.

According to Zacks, analysts expect that Costco Wholesale will report full-year sales of $41.47 billion for the current financial year, with estimates ranging from $126.24 billion to $129.24 billion. For the next financial year, analysts forecast that the firm will post sales of $134.87 billion per share, with estimates ranging from $133.49 billion to $138.81 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Costco Wholesale.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, May 25th. The retailer reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.09. Costco Wholesale had a return on equity of 27.23% and a net margin of 2.45%. The company had revenue of $28.86 billion during the quarter, compared to the consensus estimate of $28.57 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year.

Several research firms have recently weighed in on COST. Oppenheimer Holdings, Inc. set a $185.00 price objective on Costco Wholesale and gave the stock a “buy” rating in a research report on Saturday, April 1st. Wells Fargo & Company reissued a “hold” rating on shares of Costco Wholesale in a research report on Friday, May 26th. UBS Group AG raised Costco Wholesale from a “market perform” rating to an “outperform” rating in a research report on Monday, June 26th. Sanford C. Bernstein reissued a “hold” rating on shares of Costco Wholesale in a research report on Thursday, July 6th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $190.00 target price (up from $185.00) on shares of Costco Wholesale in a research report on Sunday, May 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $179.44.

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Shares of Costco Wholesale (NASDAQ:COST) traded down 0.88% during midday trading on Friday, hitting $151.50. The company’s stock had a trading volume of 3,256,881 shares. The company has a 50-day moving average price of $166.17 and a 200 day moving average price of $168.67. The company has a market cap of $66.45 billion, a P/E ratio of 26.30 and a beta of 0.94. Costco Wholesale has a 1-year low of $142.11 and a 1-year high of $183.18.

In related news, Director John W. Meisenbach sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $160.28, for a total value of $160,280.00. Following the transaction, the director now owns 5,974 shares in the company, valued at $957,512.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP James P. Murphy sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $181.30, for a total value of $906,500.00. Following the completion of the transaction, the vice president now owns 48,845 shares in the company, valued at approximately $8,855,598.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,000 shares of company stock worth $2,518,180. 0.74% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Glenview State Bank Trust DEPT. increased its position in Costco Wholesale by 20.3% in the second quarter. Glenview State Bank Trust DEPT. now owns 1,775 shares of the retailer’s stock valued at $284,000 after buying an additional 300 shares during the last quarter. North Star Investment Management Corp. increased its stake in Costco Wholesale by 5.3% in the second quarter. North Star Investment Management Corp. now owns 4,000 shares of the retailer’s stock valued at $640,000 after buying an additional 201 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Costco Wholesale by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 27,200 shares of the retailer’s stock valued at $4,350,000 after buying an additional 200 shares in the last quarter. Mountain Pacific Investment Advisers Inc. ID increased its stake in Costco Wholesale by 1.6% in the second quarter. Mountain Pacific Investment Advisers Inc. ID now owns 15,475 shares of the retailer’s stock valued at $2,475,000 after buying an additional 250 shares in the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in Costco Wholesale by 182.5% in the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 7,477 shares of the retailer’s stock valued at $1,196,000 after buying an additional 4,830 shares in the last quarter. Institutional investors and hedge funds own 73.91% of the company’s stock.

Costco Wholesale Company Profile

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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Earnings History and Estimates for Costco Wholesale (NASDAQ:COST)

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