Updated: November 29, 2025
Costco Wholesale Corporation (NASDAQ: COST) heads into the final month of 2025 with a business firing on all cylinders and a stock that has cooled after several years of outsized gains.
As markets closed for the week on Friday, November 28, Costco shares finished at $913.59, up 0.59% on the day, and still well below their 52‑week high of about $1,078 set in February.StockAnalysis+1 While the underlying business continues to grow at a high single‑digit pace, investors are increasingly debating whether the current valuation leaves enough upside from here.
Below is a detailed look at where Costco stock stands today, the most important news as of November 29, 2025, and what investors are watching next.
Where Costco Stock Stands After Friday’s Close
Because November 29 falls on a Saturday, there is no trading in COST today. The most recent action comes from Friday, November 28:
- Last close: $913.59
- Daily move: +0.59% vs. Thursday’s close of $908.26StockAnalysis+1
- Recent trend: The stock has bounced modestly in late November after a pullback that erased most of its earlier 2025 gains.MarketBeat+1
- 52‑week range: Approximately $871.71 (low) to $1,078.23 (high).MarketBeat+1
On a total‑return basis, Costco is roughly flat year‑to‑date, with FinanceCharts estimating a 2025 total return of about 0.23% and a trailing‑12‑month total return of –5.5%, following very strong gains in 2023–2024.FinanceCharts Price‑only measures from other data providers show a small year‑to‑date decline of roughly 3–4%, reflecting how sensitive the numbers are to dividend treatment and exact measurement dates.Yahoo Finance+1
Despite this pause, the long‑term track record remains exceptional: Costco has delivered double‑digit average annual returns over 3‑, 5‑, 10‑ and even 20‑year periods, far outpacing most retail peers.FinanceCharts
Fresh News for November 29, 2025: Institutional Flows and Sentiment
While the stock market is closed, the news flow around Costco stock has remained active going into the weekend. The most notable developments involve institutional investors reshuffling their positions and ongoing debate around valuation.
Big money adjustments: trimming and topping up
New SEC filing‑based reports published over November 27–28 highlight a series of moves by large investors:
- Virtue Capital Management LLC slashed its Costco position by 66.5% in Q2, selling 1,545 shares and ending the quarter with 779 shares, valued around $771,000.MarketBeat
- Scotia Capital Inc. reduced its stake slightly, selling 2,810 shares (a 0.8% trim) and finishing with 371,849 shares worth roughly $368 million, making Costco about 1.7% of its portfolio.MarketBeat
- In contrast, the State Board of Administration of Florida Retirement Systemincreased its holdings by 0.7% to 431,511 shares (about $427 million), keeping Costco as its 17th‑largest position.MarketBeat
- GM Advisory Group LLC also boosted its position by 37.4%, bringing its stake to 5,110 shares worth just over $5 million.MarketBeat
Taken together, these filings reinforce a picture of very high institutional ownership—around 68% of the float—with some funds locking in profits while others lean into the recent weakness.MarketBeat+1
The same reports note that company insiders have been net sellers, offloading roughly 9,720 shares (~$9 million) over the last three months, even as Costco continues to beat earnings expectations.MarketBeat+2MarketBeat+2
Costco as a “trending stock”
Costco is also showing up prominently on retail and professional radars:
- Zacks notes that COST is one of the most searched‑for stocks on its platform right now, reflecting heightened interest as the stock trades well below its early‑year highs.Yahoo Finance
- MarketBeat’s latest feature on Costco, published this week, argues that the business remains strong but the stock “may struggle” near term because its valuation is still rich even after a roughly 10% slide over the last three months.MarketBeat+1
In short: institutional and retail attention is high, but the tone of commentary is more cautious than it was when COST was making fresh highs earlier in 2025.
Fundamentals: What Costco’s Latest Numbers Show
The debate over Costco stock only makes sense in light of the company’s very strong operating performance.
Fiscal 2025 results: steady double‑digit earnings growth
In its fourth‑quarter and full‑year fiscal 2025 report (year ended August 31, 2025), Costco delivered:investor.costco.com
- Q4 net sales: $84.4 billion, up 8.0% year‑over‑year
- Full‑year net sales: $269.9 billion, up 8.1% year‑over‑year
- Q4 net income: $2.61 billion, or $5.87 per diluted share, vs. $5.29 a year ago
- Full‑year net income: $8.10 billion, or $18.21 per diluted share, up from $16.56 in fiscal 2024
Comparable‑sales growth remained broad‑based:
- Total company comps:5.7% in Q4 and 5.9% for the year
- International comps: as high as 8.6% in Q4 on an adjusted basis
- E‑commerce comps:13.6% in Q4 and 15.6% for the full year, underscoring a still‑accelerating digital business.investor.costco.com+1
Membership fees—arguably Costco’s most important profit driver—rose to $5.32 billion for the year, up from $4.83 billion in fiscal 2024.investor.costco.com External analyses of the Q4 report highlight global membership renewal rates around 89.8%, with renewal in the U.S. and Canada above 92%, even after the membership price hike in 2024.MarketBeat
Costco ended the fiscal year with 914 warehouses, including 629 in the U.S. and Puerto Rico and a growing footprint in Canada, Mexico, Asia, and Europe.investor.costco.com Subsequent monthly updates indicate the network has already expanded to around 918 locations as of October.quiverquant.com
October 2025 sales: momentum into the new fiscal year
The first months of fiscal 2026 (Costco’s new financial year) have started on a strong note. In early November, Costco reported that October 2025 net sales reached $21.75 billion, an 8.6% increase from the prior year.quiverquant.com
Key details from that update:quiverquant.com
- Total comparable‑sales growth: about 6.6% for the month
- U.S. comps: +6.6%; international also solid
- Digitally enabled (online) sales: up 16.6%, continuing a strong rebound after a slower patch earlier in 2025
Monthly sales reports like this are one reason Costco attracts so much short‑term trading — they provide high‑frequency data on consumer demand that can move the stock even between quarterly earnings.
Dividend policy: small yield, big reliability
On October 15, Costco announced a quarterly cash dividend of $1.30 per share, paid on November 14, 2025 to shareholders of record as of October 31.quiverquant.com+1
At recent prices around $910–$915, that implies an annualized dividend of $5.20 and a yield of roughly 0.6%—modest but supported by:GuruFocus+2MarketBeat+2
- Double‑digit earnings growth
- Strong free cash flow
- A history of occasional special dividends in addition to the regular quarterly payout (though no special dividend has been announced for 2025 so far).
For many long‑term shareholders, the real attraction is compounding membership‑driven cash flows, not the headline yield.
Valuation: Why Wall Street is Split
A central theme of recent analysis is that Costco’s stock has outrun even its excellent fundamentals.
Rich multiples vs. defensive business
Snapshot valuation metrics from Gurufocus and other data providers as of late November show:GuruFocus+2MarketBeat+2
- Share price: roughly $910
- Market cap: about $400+ billion
- Price/earnings (P/E): around 50x trailing earnings
- Price/book (P/B): roughly 13–14x
- Dividend yield: about 0.56–0.6%
- Analyst 12‑month price targets:
- StockAnalysis: average target $1,064, implying ~16% upside
- MarketBeat: consensus around $1,025, also implying double‑digit upside
Several recent notes and articles argue that while Costco’s business quality justifies a premium, valuation is now “nosebleed” level for a low‑margin retailer, comparable on earnings multiples to certain high‑growth tech names.MarketBeat+1
Analyst rating changes: still bullish, but more cautious
Despite valuation concerns, the sell‑side remains broadly positive:
- MarketBeat data shows a “Moderate Buy” consensus, with 18 Buy ratings vs. 13 Holds and essentially no Sells, and an average target around $1,025.MarketBeat+2MarketBeat+2
- Some firms have trimmed price targets in recent weeks: Oppenheimer reportedly lowered its target from $1,130 to $1,050 (still with an “outperform” rating), while Daiwa cut theirs to $947 with a “neutral” stance, and JPMorgan pared back to $1,025 while maintaining “overweight.”MarketBeat+2MarketBeat+2
- Others remain more aggressive: Argus has a target as high as $1,200 with a Buy rating, implying belief that Costco could resume its march toward a trillion‑dollar market cap if growth and multiples hold.MarketBeat+1
The overall message: Wall Street still likes Costco, but upside is now framed as more limited and more dependent on continued flawless execution.
Technical Picture and Recent Price Action
Fundamentals are strong, but the chart tells a more complicated story.
From new highs to a grinding pullback
After hitting its 52‑week high above $1,078 in February, Costco stock entered a slow, choppy downtrend starting mid‑year. MarketBeat’s technical review notes that:MarketBeat+1
- COST has fallen about 10% over the last three months, wiping out its earlier 2025 gains.
- The 50‑day simple moving average has crossed below the 200‑day, a so‑called “death cross,” and has been acting as resistance on rally attempts.
- Indicators such as the Relative Strength Index (RSI) have remained above oversold territory, suggesting that selling pressure has been steady rather than capitulatory.
Short‑term return data backs this up: FinanceCharts shows a modest 7‑day return of ~1.6% and 30‑day return of ~0.3%, but trailing‑12‑month return of –5.5%, capturing the grind lower from earlier highs.FinanceCharts+1
How Costco compares to peers
Over the last year, Costco has lagged some consumer‑staples ETFs and mega‑cap retailers, even after long‑term outperformance:
- Yahoo Finance data suggests Costco shares are down about 8% over the past 12 months and roughly 3% year‑to‑date, while the broader consumer‑staples group is down slightly less.Yahoo Finance
- Yet on a 5‑ and 10‑year basis, Costco’s total return still decisively beats big‑box rivals such as Walmart and Target, as well as most grocery‑focused chains.FinanceCharts+1
For technically minded investors, the current setup looks like a high‑quality business in a cooling stock, with bulls betting on a rebound and bears arguing that valuation still has room to compress.
Upcoming Catalysts for COST Stock
With the holiday shopping season underway, investors have a clear calendar of events that could move Costco shares in the coming weeks.
November sales report – December 3, 2025
Costco’s investor relations site lists November 2025 sales results as an event scheduled for December 3, 2025.investor.costco.com
Given the strong October numbers and robust trends in grocery and essentials, markets will watch:
- Whether comparable‑sales growth remains in the mid‑single digits or better
- How e‑commerce comps trend after the 16.6% October increase
- Any commentary on holiday‑season traffic and ticket sizes, especially among higher‑income shoppers
Another solid month could support the bull case that the recent pullback is more about valuation than fundamentals.
Q1 2026 earnings – December 11, 2025
Nasdaq and Costco’s own calendar both point to December 11, 2025 as the expected date for Q1 fiscal 2026 earnings (after market close).Nasdaq+2Nasdaq+2
Key items to watch:
- Membership revenue growth and renewal rates, following 2024’s membership fee increase
- Gross margin and operating margin, especially in a higher‑inflation environment with competitive pricing pressure
- Progress on store expansion beyond the current 900‑plus warehouse footprint
- Updated guidance, if any, for fiscal 2026
Given Costco’s history of beating expectations, even a small miss or cautious tone could weigh on the stock at current multiples, while another clean beat could reignite the rally.
Big Picture: Is Costco Stock Attractive Heading Into December 2025?
Pulling the threads together, the Costco investment story as of November 29, 2025 looks like this:
- The business is performing exceptionally well: high single‑digit revenue growth, double‑digit earnings growth, strong international comps, accelerating e‑commerce and resilient membership economics.investor.costco.com+2quiverquant.com+2
- Membership remains a fortress: renewal rates near 90% globally and over 92% in the U.S. and Canada, with membership income growing faster than sales.MarketBeat+1
- The stock is near breakeven on the year after a long multi‑year run, with recent returns modestly negative and technicals still signaling caution.FinanceCharts+2MarketBeat+2
- Valuation is the main sticking point: COST trades at roughly 50x earnings and well into double digits on book value, higher than most retailers and even some growth‑tech names, leaving less margin of safety if growth slows.GuruFocus+2MarketBeat+2
- Institutional ownership is high and active, with some funds trimming positions and others adding, while insiders have been net sellers in recent months.MarketBeat+3MarketBeat+3MarketBeat+3
For investors, the next few weeks should provide fresh clarity via November sales (Dec. 3) and Q1 earnings (Dec. 11). Strong numbers could re‑anchor the bull case and push COST back toward four‑figure territory, while any sign of consumer weakness or margin pressure could reinforce the view that the stock’s premium valuation needs further cooling.
Either way, Costco remains one of the market’s most closely watched blue‑chip retailers — not just for what it says about its own future, but for what its traffic and sales can reveal about the health of the U.S. consumer.
