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Costco Hikes Membership Fees At Long Last; Analysts Caution Of 'Sell The News' Event, Point To Stock Underperformance After Last 3 Hikes

Benzinga ·  01:32

RetailerCostco Wholesale Corporation(NASDAQ:COST) announced a membership fee increase Wednesday after market close.

The company's new fee increase will see members paying an additional $5 annually for its Gold Star and Business levels and an additional $10 annually for its Executive memberships. The fee increase, which will impact around 52 million members, will kick in on Sept. 1.

Analysts break down the impact of the membership fee increase and Costco's June monthly sales that were also reported Wednesday.

The Costco Analysts:

  • Stifel analyst Mark Astrachan has a Buy rating and raises the price target from $900 to $950.
  • DA Davidson analyst Michael...
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