Costco, slow but sure? Message Board

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Non-Tech : Costco, slow but sure?

COST 998.85

+2.2%

3:59 PM EST

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To: Zhivago who wrote (998)	12/9/1999 11:32:00 AM
From: Curbstone	Read Replies (1) of 1147

Here is the take on the news by one of the online Split strategy reports. Get ready for more. COST: Warehouse wholesaler announces first stock split. Costco Wholesale Corp (Dasdaq:COST), this morning announced that their Board of Directors had approved a 2:1 stock split, the Company's first stock split. The additional shares will be distributed to shareholders of record as of December 24, 1999, by the Company's transfer agent on January 13, 2000. Costco is known for their membership approach to offering wholesale prices in a warehouse setting, much like Sam's Club, the wholesale outlets owned and operated by WalMarts. The split announcement is due to the rise in the stock price, which has increased over 50% since the beginning of the year. The float of COST shares is presently 189 million, with approximately 89% of the float institutionally owned. In other news, the Company is expected to release their first quarter numbers later this morning, with consensus street estimates of $0.55 expected. We expect that this split will generate tremendous momentum, and anticipate that COST will be added almost immediately to our Recommended Split List.

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