Costco

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target at $770, 44.5x our FY 25 (Aug.) EPS of $17.32 (cut from $17.45; FY 24 up to $16.04 from $15.93) vs. 37x five-year average forward P/E. F2Q EPS of $3.92 (+19% Y/Y) beat by $0.31, although there were a few below-the-line benefits related to the $6.7B special cash dividend (e.g., favorable tax rate; elevated interest income due to a higher cash balance). Comp sales (ex-fuel/FX) grew 5.8% Y/Y, a sequential acceleration from F1Q (+3.9%). Membership income grew 8% Y/Y. COST is seeing strength in some bigger-ticket discretionary categories (e.g., appliances, tires), a stark contrast to most other retailers, as COST is lowering prices on merchandise where commodity or freight costs have come down. Digital sales were up a solid 16%, with Costco […]

By Andrew Bary It’s getting to be a silly season for certain stocks. The technology stocks propelling the S&P 500 have raced ahead while leaving much of the rest of the market behind. Valuations on the priciest tech stocks based on profits and sales are approaching the peak values reached in late 2021, before the big Nasdaq selloff in 2022. Companies such as Cadence Design Systems, Cloudflare, and Nvidia trade for nearly 20 times projected 2024 sales, a calculation based on market value divided by estimated revenue. Even Microsoft, the world’s largest company at $3 trillion, is valued at more than 10 times estimated sales in its current fiscal year ending in June. Once upon a time, 10 times sales was viewed as pricey. As Scott McNealy, the former CEO of Sun Microsystems, said 20 years ago, “At 10 times revenue, to give you a 10-year payback, I have to

Retailer Costco Wholesale Corporation (NASDAQ:COST) reported second-quarter financial results after market close Thursday. Analysts size up the results and what’s next for Costco stock, which trades near all-time highs. Truist analyst Scot Ciccarelli has a Buy rating and raises the price target from $741 to $815. Stifel analyst Mark Astrachan has a Buy rating and raises the price target from $735 to $800. Telsey analyst Joseph Feldman has an Outperform rating and raises the price targe from $750 to $800. Oppenheimer analyst Rupesh Parikh has an Outperform rating and a price target of $805. Goldman Sachs analyst Kate McShane has a Buy rating and raises the price target from $749 to $830. DA Davidson analyst Michael Baker has a Neutral rating and raises the price target from $600 to $680. Related Link: Costco Membership Fee Increase Could Be Coming, Hot Dog & Soda Combo To Stay The Same Truist: Improving discretionary sales and

Costco Reports Q2 EPS of $3.92 on Revenue of $58.4 Billion, vs CIQ Analyst Consensus of $3.64/Share on Revenue of $59.1 Billion。

Costco (COST) shares slipped 4.7% in after-market trading as the company reported revenue that fell short of estimates in the fiscal second quarter despite booming e-commerce sales. The big-box retail giant’s profit rose to $1.74 billion, or $3.92 a share, for the quarter ended Feb. 18, from $1.47 billion, or $3.30 a share, in the prior-year quarter. Analysts polled by FactSet expected per-share earnings of $3.61. Revenue rose 5.7% to $58.44 billion, falling short of the $59.11 billion expected by analysts polled by FactSet. Comparable sales for the quarter were up 5.6% for the company, with a 4.3% increase in the U.S. offsetting higher comparable sales growth in Canada and other international. E-commerce comparable sales increased 18% in the quarter.

Costco Wholesale (COST) reported fiscal Q2 earnings late Thursday of $3.92 per diluted share, up from $3.30 a year earlier. Analysts polled by Capital IQ expected $3.61. Net sales for the quarter were $58.44 billion, up from $55.27 billion a year earlier. Analysts surveyed by Capital IQ expected $59.13 billion. Costco shares fell past 4% in after-hours trading.

By Sabrina Escobar Costco (COST.US) topped earnings expectations, but the stock fell in after-hour trading Thursday following the company’s rare revenue miss. The company’s fiscal second-quarter revenue of $58.4 billion missed analyst projections for $59.1 billion. Total company same-store sales, adjusted for currency and gasoline price fluctuations, rose 5.8% year-over-year. Analysts had predicted they would tick up 5%. Earnings of $3.92 a share were higher than estimates for $3.63 a share. Net income got a boost from a $94 million tax benefit from the deductibility of the $15-per-share special dividend announced last year. Costco’s stock fell 4.6% to $749.63 Thursday afternoon. The stock has gained 19% this year, while the S&P 500 is up 8%. The company — and its stock — have been reliable outperformers over the past couple of quarters, with strong financial results pushing shares to historic highs. And indeed, Costco has given investors a lot to

Replying to the first question on an earnings call, outgoing CFO Richard Galanti tells analysts that the retailer isn’t prepared to announce an increase in membership fees. Investors have been watching whether Costco would boost its fees in a bid to capture additional revenue. Renewal rates increased in 2Q from 1Q and overall membership grew year over year. Walmart’s Sam’s Club raised its membership fees in 2022. “We will at some point,” says Galanti, who will be replaced by former Kroger CFO Gary Millerchip on March 15. “I’ve been joking with Gary, it will be on his watch, not mine.”

Costco’s F2Q print should be good, showcasing the consistency of its business model, and won’t change the debate on the stock, UBS analysts say in a research note. The wholesale retailer has demonstrated that it can benefit from all kinds of economic environments, including when consumers are stretched by inflation. Now, it’s seeing the benefits of an upturn in discretionary categories ahead of other retailers. Costco’s shares still have several catalysts ahead amid a long runway of growth globally, the analysts add. “The company’s recent club openings in China are a good way to gauge this.” Shares rise 0.3% to $725.77 and are up 10% year-to-date.

Costco Wholesale Corporation (NASDAQ:COST) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/06/2024 5.04% Telsey Advisory Group $700 → $750 Maintains Outperform 02/02/2024 6.44% Oppenheimer $695 → $760 Maintains Outperform 01/05/2024 -2.66% Oppenheimer $675 → $695 Maintains Outperform 12/29/2023 4.34% Tigress Financial $635 → $745 Maintains Buy 12/21/2023 3.78% Truist Securities $693 → $741 Maintains Buy 12/20/2023 -13.17% Northcoast Research → $620 Downgrades Buy → Neutral 12/15/2023 -1.96% BMO Capital $612 → $700 Maintains Outperform 12/15/2023 -15.97% DA Davidson $570 → $600 Maintains Neutral 12/15/2023 -5.46% Stifel $615 → $675 Maintains Buy 12/15/2023 -11.76% Citigroup $585 → $630 Maintains Neutral 12/15/2023 1.54% UBS $640 → $725 Maintains Buy 12/15/2023 -5.46% Oppenheimer → $675 Reiterates Outperform → Outperform 12/15/2023 -6.16% Raymond James $580 → $670 Maintains Outperform 12/15/2023 -2.94% Truist Securities $619 → $693 Maintains Buy 12/15/2023 -1.96% Telsey Advisory Group $625 →

Costco Wholesale Corporation (COST) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/02/2024 7.35% Oppenheimer $695 → $760 Maintains Outperform 01/05/2024 -1.83% Oppenheimer $675 → $695 Maintains Outperform 12/29/2023 5.23% Tigress Financial $635 → $745 Maintains Buy 12/21/2023 4.67% Truist Securities $693 → $741 Maintains Buy 12/20/2023 -12.42% Northcoast Research → $620 Downgrades Buy → Neutral 12/15/2023 -1.12% BMO Capital $612 → $700 Maintains Outperform 12/15/2023 -15.25% DA Davidson $570 → $600 Maintains Neutral 12/15/2023 -4.65% Stifel $615 → $675 Maintains Buy 12/15/2023 -11.01% Citigroup $585 → $630 Maintains Neutral 12/15/2023 2.41% UBS $640 → $725 Maintains Buy 12/15/2023 -4.65% Oppenheimer → $675 Reiterates Outperform → Outperform 12/15/2023 -5.36% Raymond James $580 → $670 Maintains Outperform 12/15/2023 -2.11% Truist Securities $619 → $693 Maintains Buy 12/15/2023 -1.12% Telsey Advisory Group $625 → $700 Maintains Outperform 12/13/2023 -4.65% Oppenheimer $630 → $675 Maintains

Costco, the retail giant known for bulk buys and unbeatable bargains, is adding a touch of luxury to its aisles with the addition of the exclusive and coveted Screaming Eagle wine. Not that $3,699 for a bottle of the Screaming Napa Valley Cabernet Sauvignon is cheap — the average price of a 2018 bottle of the wine is $4,720, according to Wine Searcher. Considered a rare find, Screaming Eagle wine ranks as America’s second most expensive wine on Wine Searcher. Screaming Eagle has 57 acres of vineyards and an annual production of about 500 cases, according to VinePair. The waiting list for the wine is so long that the vineyard can’t give a firm timeframe for delivery, according to the Screaming Eagle website. Don’t Miss: Many NBA players, including LeBron James, have ventured into fine wine investments as an alternative asset. Now you can too with just $25. Investing in