Costco Wholesale Corporation Looks to Continue to Trade Above its Annual-High Share Price Today

July 20, 2021 10:26:43

Shares of Costco Wholesale Corporation (NASDAQ:COST) traded at a new 52-week high today of $416.70. This new high was reached on below average trading volume as 332,000 shares traded hands, while the average 30-day volume is approximately 1.8 million shares.

Based on a current price of $415.01, Costco Wholesale Corporation is currently 50.9% above its average consensus analyst price target of $203.85.

Costco Wholesale Corporation share prices have moved between a 52-week high of $416.70 and a 52-week low of $307.00 and are now trading 35% above that low price at $415.01 per share.

The leading warehouse club, Costco has 795 stores worldwide (at the end of fiscal 2020), with most sales derived in the United States (73%) and Canada (13%). It sells memberships that allow customers to shop in its warehouses, which feature low prices on a limited product assortment. Costco mainly caters to individual shoppers, but roughly 20% of paid members carry business memberships. Food and sundries accounted for 42% of fiscal 2020 sales, with hardlines 17%, ancillary businesses (such as fuel and pharmacy) nearly 17%, fresh food 14%, and softlines 10%. Costco’s warehouses average around 146,000 square feet; over 75% of its locations offer fuel. About 6% of Costco’s global sales come from e-commerce (excluding same-day grocery and various other services).

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