Watch for Continued Gains in Shares of Costco Wholesale Corp.

Costco Wholesale Corp. COST traded at a new 12-month high today of $550.62. So far today approximately 332,000 shares have been exchanged, as compared to an average 30-day volume of 1.8 million shares.

The leading warehouse club, Costco has 815 stores worldwide (at the end of fiscal 2021), with most sales derived in the United States (72%) and Canada (14%). 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 40% of fiscal 2021 sales, with non-food merchandise 29%, warehouse ancillary and other businesses (such as fuel and pharmacy) nearly 17%, and fresh food 14%. Costco’s warehouses average around 146,000 square feet; over 75% of its locations offer fuel. About 7% of Costco’s global sales come from e-commerce (excluding same-day grocery and various other services).

Costco Wholesale Corp. defies analysts with a current price ($547.12) 0.5% above its average consensus price target of $544.62.

In the past 12 months, Costco Wholesale Corp. share prices are bracketed by a low of $307.00 and a high of $550.62 and are now at $547.12, 78% above that low price.

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