Costco Wholesale is trading 3.7% down at $918.19 as investors take profits following a strong rally fueled by its June sales report and dividend declaration.
- June net sales increased 10.6% year-over-year to $29.24 billion, which had previously driven the stock higher.
- The company recently declared a quarterly dividend of $1.47 per share, contributing to the prior bullish sentiment.
- Shares are currently pulling back as the market digests the recent gains and the impact of the positive monthly performance report.