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.
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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