McCormick Sells Costco Shares Amid Retailer's Stock Slump

Representative Richard McCormick (Republican-Georgia) recently sold shares of Costco Wholesale Corporation (NASDAQ:COST). In a filing disclosed on August 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in Costco Wholesale stock on July 30th. This trade occurred in the Representative's 'GROWTH PARTNERS ROTH IRA' account.

The sale of Costco shares is part of a larger pattern of trading activity by Representative McCormick. On the same day as the Costco trade, he also sold shares of Medtronic (NYSE:MDT), NextEra Energy (NYSE:NEE), PepsiCo (NASDAQ:PEP), Abbott Laboratories (NYSE:ABT), McDonald's (NYSE:MCD), L3Harris Technologies (NYSE:LHX), Johnson & Johnson (NYSE:JNJ), Intercontinental Exchange (NYSE:ICE), Illinois Tool Works (NYSE:ITW), and Home Depot (NYSE:HD) - all in the same 'GROWTH PARTNERS ROTH IRA' account.

This news comes as Costco's stock has been under pressure. Shares of the retailer are trading down 0.8% after opening at $953.50 on Tuesday. Despite this, analysts remain generally favorable towards the company, with an average 'Moderate Buy' recommendation and a consensus price target of $1,059.53.