The move also follows a price-target cut from JPMorgan analyst Christopher Horvers, who maintained an Overweight rating on Costco but lowered the firm’s price target from $1,110 to $1,100.
Costco Wholesale stock is among today’s weakest performers. Why are COST shares down?
What’s Driving Costco’s Recent Sales Growth?Costco said net sales reached $29.24 billion for the five weeks ended July 5, 2026, up 10.6% from the same period last year, with U.S. comparable sales also up 10.6% and Canada comps up 3.7%. For the first 44 weeks of the fiscal year, net sales totaled $250.43 billion, up 10.1%, though management flagged gasoline price deflation and foreign exchange as headwinds.Costco’s regional split is also part of the read-through, with U.S. comps up 10.6% versus Canada at 3.7%, reinforcing that FX and local demand differences can matter even when the headline growth rate looks clean. That unevenness can amplify positioning moves when the stock is already trading heavy.Critical Price Levels To Watch For COSTFrom a trend perspective, Costco is below its key moving averages, trading 4.7% under the 20-day SMA ($955.46), 7.7% below the 50-day SMA ($987.00), and 4.8% below the 200-day SMA ($956.93). The 20-day SMA sitting below the 50-day SMA keeps the near-term setup bearish, even though the longer-term "golden cross" (50-day above 200-day) that formed in March is still technically intact.For momentum, MACD is below its signal line with a negative histogram, which typically means upside pressure is fading unless buyers can push the stock back above that baseline. Put simply: when MACD is under its signal line, rallies tend to lose steam faster, so bulls usually want to see that relationship flip before leaning in.
