Costco Wholesale stock holds near record levels as investors eye double digit sales growth

Costco Wholesale stock is trading close to recent highs as investors digest double digit sales growth and rising membership fees ahead of the next earnings update.

Costco Wholesale stock (ISIN US22160K1051) is trading near record territory, with recent market data showing a price around USD 950 as of September 1, 2026, on the Nasdaq, giving the warehouse club operator a market capitalization in the hundreds of billions of USD according to major stock portals. As of the latest close reported by MarketBeat on September 1, 2026, Costco shares opened that day at USD 943.89, underscoring how tightly the stock has been range trading just below the USD 950 mark while investors focus on the company’s newest sales and membership trends.

Double digit sales growth boosts confidence

For the twelve weeks ended May 10, 2026, Costco generated net sales of USD 69.15 billion, according to an analysis published on September 1, 2026 by Long Yield, highlighting the scale of the membership warehouse model. The same source notes that net sales in that quarter rose 11.6 percent compared with the prior year period, a double digit growth rate that helps justify Costco’s premium valuation for many investors. Long Yield also highlights that Costco’s gross margin, defined as net sales minus merchandise costs, stood at roughly 11 percent for that twelve week period, underlining the importance of volume and membership income for profitability.

Membership economics remain a key driver. In the same twelve week period ended May 10, 2026, Costco collected USD 1.37 billion in membership fees, an increase of 10.7 percent year on year, according to the Long Yield analysis. Because membership fee income has limited direct costs, this revenue stream largely falls to the bottom line and provides a buffer against margin pressure in the core merchandise business. For investors, the combination of 11.6 percent sales growth and 10.7 percent membership fee growth offers a quantified sign that Costco is still expanding its member base and extracting more value per member, even as the stock price already discounts a lot of future growth.

Valuation and analyst targets set the bar high

Despite these strong operating metrics, some valuation-focused services highlight that Costco stock is priced for perfection. GuruFocus data updated on September 1, 2026 shows Costco trading at USD 945.49 per share, while its proprietary GF Value metric estimates an intrinsic value of USD 1,037.31, implying the stock is about 8.9 percent undervalued relative to that model. At the same time, other analyses argue that the stock looks fully or even richly valued after a gain of more than 100 percent over the past several years, pointing to elevated earnings multiples that leave limited room for disappointment.

On the analyst side, a report carried on September 1, 2026 by The Globe and Mail notes that Telsey Advisory reiterated its buy rating on Costco and set a price target of USD 1,135.00. That target sits well above both the recent USD 943.89 opening price cited by MarketBeat and the USD 945.49 spot level referenced by GuruFocus, implying potential upside of around 20 percent based on those recent prices. MarketBeat’s consensus, as summarized in early September 2026, points to an average analyst target price of roughly USD 1,059.53 and a Moderate Buy rating, signaling that many analysts still expect further gains even after the stock’s long rally.

Membership model and key product categories

Costco’s business model centers on a membership-based warehouse format that monetizes both annual fees and high volume, low margin merchandise sales across categories including groceries, household products, apparel, electronics and services. The Long Yield analysis emphasizes that in the twelve weeks ended May 10, 2026, the USD 1.37 billion of membership fee income represented a meaningful share of operating profit, highlighting how critical subscription-like revenue is for the company’s earnings power. With net sales of USD 69.15 billion and a roughly 11 percent gross margin over that period, every incremental member and renewal contributes disproportionately to the bottom line.

Costco Wholesale stock price context and investor view

Recent price data compiled by MarketBeat show Costco stock opening at USD 943.89 on September 1, 2026, while a separate snapshot cited by Yahoo Finance and GuruFocus places the stock around USD 945 to USD 950 on the same date. That leaves the share price just below psychological levels such as USD 1,000 and within reach of recent all time highs, though still comfortably within its 52 week trading range according to major stock portals. At these levels, the stock’s premium valuation reflects both robust current growth, with net sales up 11.6 percent year on year in the latest reported quarter, and expectations that membership fee income, which increased 10.7 percent to USD 1.37 billion in the twelve weeks ended May 10, 2026, will continue to expand over time.

Key data for Costco Wholesale

• Company: Costco Wholesale Corporation
• ISIN: US22160K1051
• Ticker: COST
• Trading venue: Nasdaq (primary listing)
• Price (as of September 1, 2026): 943.89 USD
• Market capitalization: (as of September 1, 2026)
• Sector / Industry: Consumer Staples / Hypermarkets and Super Centers
• Index membership: S and P 500