Why Costco Stock Is Trading Lower Today

Why Costco Stock Is Trading Lower Today

Costco Wholesale Corp COST shares are trading lower Thursday after the company reported its November sales results.

What Happened: Costco said net sales for November totaled $19.17 billion, up 5.7% on a year-over-year basis. 

For the twelve-week first quarter ended Nov. 20, the company reported net sales of $53.44 billion, an increase of 8.1%. For the thirteen weeks ended Nov. 27, Costco reported net sales of $58.36 billion, an increase of 7.9%.

Raymond James analyst Bobby Griffin maintained Costco with an Outperform rating and raised the price target from $560 to $570 following the company's November sales results.

Costco is set to report fiscal first-quarter financial results on Dec. 8. 

See Also: Walmart, Costco Are Black Friday Winners While Target Sees Light In-Store Traffic

COST Price Action: Costco has a 52-week high of $612.27 and a 52-week low of $406.51.

The stock was down 3.38% at $521 at time of publication, according to Benzinga Pro.

Photo: Mike Mozart from Flickr.

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