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Costco to Raise Membership Fees, Higher Costs Take Toll on Profit

04 March, 2017, 00:37 | Author: Paula Vaughn
  • Costco will report fiscal second-quarter earnings after the close

The shares were sold at an average price of $161.98, for a total transaction of $2,298,334.22.

Wholesale retail chain Costco - which operates warehouse stores in East Harlem; Sunset Park, Brooklyn; and Long Island City and Rego Park, Queens - is raising its membership prices this summer, according to a company quarterly report.

Revenues rose 5.7% from previous year to $29.77 billion, topping analysts' view for $29.75 billion.

The Issaquah, WA-based membership warehouse operator reported Q2 EPS of $1.17, which was $0.18 worse than the Wall Street consensus estimate of $1.35. The increased prices will go into effect June 1, 2017, the wholesale retailer announced on Thursday.

Costco has tended to raise fees about every five or six years.

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There are 16 brokerages that have approved securities rating on Costco Wholesale Corporation (NASDAQ:COST) within the past year. They collectively paid more than $2.6 billion USA for the right to shop at the stores - more than the company made in profits a year ago. Now the stock price is moving -0.41% off from the highest level of twelve months and +29.53% above from twelve months low.

Costco Wholesale Corp.'s second quarter profit took a hit amid higher costs. The stock now has a consensus rating of "Buy" and a consensus target price of $176.33. BMO Capital Markets' target price indicates a potential upside of 1.13% from the company's current price. Klingman & Associates LLC increased its stake in shares of Costco Wholesale Corporation by 25.8% in the third quarter. Shares of Costco Wholesale Corporation (NASDAQ:COST) now have an ABR of 1.61, derived from a total of 19 opinions. Over the last quarter, insiders have sold 47,292 shares of company stock valued at $7,631,776. Canada remained the strong part of the system, posting an 8% rise in comps, but other worldwide locations had to deal with a 2% drop that pulled down the company on the whole. Its weekly and monthly volatility is 1.08%, 1.09% respectively. Companys change in pay out ratio when compared to the last 5 years average pay out ratio has been 0.04.

Turning to market valuation, the P/E ratio is 32.46, the P/S ratio is 0.65 and the P/B ratio is finally 6.51. Barclays PLC set a $158.00 target price on shares of Costco Wholesale Corporation and gave the stock a "hold" rating in a report on Monday.

Three Month Ago Analyst Ratings: COSTCO WHOLESALE CORPORATION (COST) has received mean Analyst rating of 2.03 from polled analysts at Reuters 3 Month Ago. Presently, it has a Return on Equity (ROE) of 20.70% and Return on Investment (ROI) of 13.80%.

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