Relieved inflationary pressure for American consumers? Costco raises membership fees for the first time in seven years.
Costco announced on Wednesday that starting from September 1st, the annual membership fee for basic members in the USA and Canada will increase by $5, from $60 to $65; Membership fees have always been one of Costco's biggest sources of profit; This is the first time that Costco has raised membership fees since June 2017.
Costco Price Target Raised to $975.00/Share From $850.00 by Baird
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Costco Is Maintained at Outperform by Baird
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Costco Wholesale Analyst Ratings
Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 07/11/2024 7.08% Baird $850 → $975 Maintains Outperform 07/08/2024 -1.15% Telsey Advisory Group $900 → $90
Express News | Costco Wholesale Corp : BofA Global Research Raises Price Objective to $962 From $874
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BofA Securities analyst Robert Ohmes maintains $Costco(COST.US)$ with a buy rating, and adjusts the target price from $874 to $962.According to TipRanks data, the analyst has a success rate of 58.8%
Costco's stock price has risen 34% this year, as expected to increase prices.
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Costco shares rise after the warehouse retailer says it will be raising its membership fee for the first time since 2017, and Tesla closes higher for the 11th-straight session. PepsiCo and Delta report quarterly earnings before the stock market opens Thursday.
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By Angus Berwick Costco (COST): The wholesale retailer's shares rose almost 3% in offhours trading. Costco said Wednesday it was raising its annual membership fees for the first time since 2017.
Express News | Costco Shares up 2.8% Prremarket After First Annual Membership Fee Hike in Seven Years
US stocks surged before the market, with a rise of over 2.7% and hitting a new high. For the first time in seven years, membership fees have been increased.
Gelonghui July 11 | pre-market trading of COST.US rose more than 2.7%, to $908.8, and the stock price is expected to hit a historic high after the opening. On the news front, Costco said that starting September 1, it will raise membership fees in the United States and Canada by $5, with an increase in annual fees from $60 to $65; the higher-level plan, the "Black Diamond Card Member" annual fee will increase from $120 to $130. Costco said that the price increase will affect about 52 million members, with the proportion of Black Diamond Card members slightly higher than half.
Express News | Costco Wholesale Corp : Oppenheimer Raises Target Price to $950 From $905
Costco Is Raising Membership Fees for the First Time in 7 Years
Starting Sept. 1, "Gold Star" membership in the U.S. and Canada will cost $65, up from $60. "Executive Memberships" will go from $120 to $130, with the membership's maximum annual 2% reward increasing from $1,000 to $1,250.
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For the first time in seven years! Costco (COST.US) increases membership fees for both US and Canada.
According to the WiseNews app, Costco (COST.US), the world’s largest chain member storage supermarket, stated on Wednesday that it will increase membership fees in the United States and Canada by $5 starting September 1, with an annual fee increasing from $60 to $65. Its higher level plan, “Black Diamond Card Member” annual fee will increase from $120 to $130. Costco stated that the price increase will affect approximately 52 million members, with slightly more than half being Black Diamond Card Members. Boosted by the news, Costco’s stock price rose more than 2% after hours on Wednesday. As of Wednesday's close, the stock has risen 34% so far this year, outpacing the S&P.
Costco raises membership fee in the US and Canada for the first time in seven years; post-market trading rises over 2%.
USA warehouse retailer Costco (COST.US) has raised its annual membership fee for the first time since June 2017. Regular membership fees in the United States and Canada have increased from $60 to $65, while executive membership fees have increased from $120 to $130. However, the maximum annual reimbursement for executive members has been raised from the current $1,000 to $1,250. The new fees will take effect in September, affecting an estimated 52 million members, with slightly over half being executive members. Membership fees are one of Costco's main sources of revenue, with approximately $4.6 billion in fees collected last year.