Costco Wholesale Corporation ($COST) Stock Forecast: Up 2.7% Today

What is Costco Wholesale Corporation?

Costco (COST) is a well-known retail company operating a chain of membership-based warehouses, offering a wide range of products at competitive prices. The stock recently showed a strong bullish movement amidst market fluctuations.

Why is Costco Wholesale Corporation going up?

COST stock is up 2.7% on Aug 27, 2024 14:40

• The bullish movement in Costco's stock may be linked to positive analyst calls and updates, including mention of the company's new membership crackdown and digital trends by Goldman Sachs.
• The ongoing court battle between Kroger and Albertsons over merger plans could indirectly benefit Costco, with investors potentially viewing competitor consolidation as favorable for the company's market position.
• Despite the overall market decline, Costco's stock rise and the market's reaction to it may reflect investor confidence in the company's resilience and effective navigation of challenges.

COST Price Chart

COST News

Here are Tuesday''s biggest analyst calls: Apple, Netflix, Nvidia, Ferrari, Blackrock, Coca-Cola, Costco, Hershey & more

Here are the biggest calls on Wall Street on Tuesday.

https://www.cnbc.com/2024/08/27/tuesdays-stocks-on-wall-street-nvidia-apple-and-netflix.html

Kroger and Albertsons defend merger plan in federal court against U.S. regulators'' objections

PORTLAND, Ore. — Supermarket chain Albertsons told a federal judge Monday that it might have to lay off workers, close stores and even exit some markets if its planned merger with Kroger isn''t allowed to proceed. The two companies proposed what would be the largest supermarket merger in U.S. history in October 2022. But the Federal Trade Commission sued to prevent the $24.6 billion deal, alleging it would eliminate competition and raise grocery prices in a time of already high food price inflation . In the three-week hearing that opened Monday, the FTC is seeking a preliminary injunction that would block the merger while its complaint goes before an in-house administrative law judge. “This lawsuit is part of an effort aimed at helping Americans feed their families," the FTC''s chief trial counsel, Susan Musser, said in her opening arguments on Monday. Musser said Kroger and Albertsons currently compete in 22 states, closely matching each other on price, quality, private label products and services like store pickup.

https://chicago.suntimes.com/business/2024/08/26/kroger-albertsons-merger-federal-court-ftc-labor-consumers-inflation-food-grocery-competition

Costco ( COST ) Ascends While Market Falls: Some Facts to Note

In the most recent trading session, Costco (COST) closed at $892.51, indicating a +1.51% shift from the previous trading day.

https://www.zacks.com/stock/news/2327317/costco-cost-ascends-while-market-falls-some-facts-to-note

Goldman Sachs Highlights Foot Locker's Digital Rebound And Costco's New Membership Crackdown - Costco Wholesale ( NASDAQ:COST ) , Foot Locker ( NYSE:FL )

Goldman Sachs analyst Kate McShane provided an update on digital trends at Foot Locker, Inc. FL and new card-scanning rules at Costco Wholesale Corporation COST.

https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40559764/goldman-sachs-highlights-foot-lockers-digital-rebound-and-costcos-new-membership-cr

Kroger and Albertsons hope to merge but must face a skeptical US government in court first

The largest proposed grocery store merger in U.S. history is going to court. On one side are supermarket chains Kroger and Albertsons, which say their planned merger will help them compete against rivals like Costco. On the other side are antitrust regulators from the Federal Trade Commission, who say the merger would eliminate competition and […]

https://ktar.com/story/5597032/kroger-and-albertsons-hope-to-merge-but-must-face-a-skeptical-us-government-in-court-first/

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Costco Wholesale Corporation Price History

27.07.2024 - COST Stock was up 2.7%

• The bullish movement in Costco's stock may be linked to positive analyst calls and updates, including mention of the company's new membership crackdown and digital trends by Goldman Sachs.
• The ongoing court battle between Kroger and Albertsons over merger plans could indirectly benefit Costco, with investors potentially viewing competitor consolidation as favorable for the company's market position.
• Despite the overall market decline, Costco's stock rise and the market's reaction to it may reflect investor confidence in the company's resilience and effective navigation of challenges.

06.09.2023 - COST Stock was down 3.2%

• The bearish movement in COST today could be attributed to several factors:
• 1. an article from Seeking Alpha suggests that Costco may not provide meaningful returns going forward due to headwinds of inflation and shaky e-commerce growth. This negative outlook could have influenced investors to sell their shares, leading to the bearish movement.
• 2. an article from Business Insider mentions a self-checkout reckoning faced by retailers, including Costco. If investors perceive this as a potential threat to Costco's business model and profitability, it could have contributed to the bearish movement.
• 3. While an article from Benzinga highlights better-than-anticipated September sales growth and an analyst raising the price target for Costco, it may not have been enough to outweigh the concerns raised in the other articles. Investors might have focused more on the potential challenges mentioned in the bearish articles, leading to the downward movement in the stock.
• 4. Although not directly related to Costco, an article from Investor Place discusses consumer backlash and the potential impact on streaming stocks due to high inflation and rising interest rates. This broader market sentiment could have influenced investors to be cautious and sell their positions in Costco as well.
• Overall, the bearish movement in COST today could be a result of concerns about inflation, e-commerce growth, potential threats to the business model, and broader market sentiment.

31.04.2024 - COST Stock was down 1.0%

• Third-quarter revenue and earnings per share exceeded expectations; however, Costco shares declined, reflecting negative market sentiment.
• Analysts have raised the stock target and maintain an outperform rating, expressing optimism about the company's performance.
• Despite assurances that the $1.50 hot dog price will not change, this may not have been sufficient to address other market concerns.
• The market's reaction suggests that investors may be considering factors beyond the strong Q3 performance, possibly indicating broader economic worries impacting the stock.

08.02.2024 - COST Stock was down 5.9%

• Costco's stock saw bearish movement following a holiday earnings miss despite online sales growth, suggesting investor concerns.
• The decision not to raise annual membership fees immediately but to hint at potential future increases may have dampened consumer sentiment and loyalty, contributing to the bearish trend.
• Despite a target price upgrade to $680 based on margin trends, the stock reacted negatively to revenue estimates miss, intensifying the bearish movement.
• Overall, disappointing earnings, possible fee hikes, and the revenue miss likely caused the bearish sentiment surrounding Costco's stock.

08.02.2024 - COST Stock was down 6.8%

• There was a "sell the news" reaction to Costco's fourth quarter results, as the stock had previously rallied 6%.
• The introduction of silver coins for sale at Costco sparked interest among shoppers but did not impact the stock price positively.
• Despite a strong Q2 performance and a raised stock target to $800, Costco's stock faced a notable decline, possibly due to profit-taking following the recent rally.
• The market's negative reaction to the CFO's comments during the earnings call, especially regarding potential membership price increases and crackdowns on sharing memberships, may have contributed to the stock's decline.

08.02.2024 - COST Stock was down 5.5%

• Revenue estimates were missed by Costco, causing a bearish movement in its stock price.
• Despite reporting solid growth in Q2 and plans for expansion, the market reacted negatively to the revenue miss.
• The contrast between Costco's performance and other companies like Gap and DocuSign rising premarket indicates specific concerns or disappointments related to Costco's financials.
• Investors may be cautious about Costco's future growth potential and competitive positioning in the retail industry, contributing to the bearish trend.

08.02.2024 - COST Stock was down 7.3%

• Costco stock experienced a strong bearish movement today, marking its worst day in nearly two years.
• The quarterly revenue miss reported by Costco led to a 6% drop in its stock price after delivering fourth-quarter results.
• Investors might have engaged in a "sell the news" strategy, as shares had rallied 6% in the week leading up to the report.
• The news about Costco selling bags of silver coins for $625, while intriguing, did not have a significant impact on the stock price movement.

05.06.2024 - COST Stock was up 1.3%

• High-rolling investors positioning themselves bullish on Costco could have contributed to the stock's strong bullish movement.
• Positive sentiment surrounding consumer spending and the expectation of an increase in spending, especially in home improvement stores, might have boosted investor confidence in companies like Costco.
• Despite concerns about extreme valuation, Costco's impressive financial performance and growth potential highlighted in various analyst reports could have attracted more investors, further driving the bullish movement in the stock.

11.06.2024 - COST Stock was down 3.3%

• The bearish movement in COST stock today might be linked to market reaction following the membership fee hike announcement, despite an initial 2.5% increase in pre-market trading.
• Concerns among investors about the impact of the fee raise on customer retention and acquisition could have prompted the sell-off of Costco shares.
• The decline in stock price after markets opened suggests that the fee hike news overshadowed positive sales results from June, leading to investor uncertainty.
• Observing the stock's performance in the following days will be crucial in understanding the long-term effects of the fee increase on Costco's financial well-being and investor confidence.

11.06.2024 - COST Stock was down 3.7%

• Today's decline in Costco's stock price could be due to investors taking profits following a recent upward trend.
• The broader market sentiment appears positive, with the NASDAQ setting new records for the fourth consecutive day, reflecting strong investor confidence in tech stocks.
• Attention on undervalued small-cap stocks and long-term growth prospects elsewhere may have drawn focus away from Costco, influencing its stock decline.
• Investors possibly reallocating towards high-growth stocks highlighted in recent discussions, leading to a temporary downturn in Costco's stock performance.