Costco Stock Split History: Will COST Split Again?

Last updated: June 2025. Share prices and split data are subject to change. Verify current figures at Costco's official Investor Relations page before making investment decisions.

Costco Stock Split: A Quick Overview

Yes, Costco Wholesale Corporation (NASDAQ: COST) has split its stock four times since going public. The most recent split was announced in October 2024 and became effective January 14, 2025, reducing the per-share price from approximately $900 to approximately $90. As a component of the S&P 500, COST is one of the most closely watched retail stocks in the United States.

Most Recent Costco Stock Split Announced: October 2024 | Effective date: January 14, 2025 | Ratio: 10-for-1 Pre-split price: ~$900 per share | Post-split price: ~$90 per share Verify exact figures at Costco's official Investor Relations page

Costco Wholesale Corporation is a membership-based warehouse retailer headquartered in Issaquah, Washington, trading on the NASDAQ exchange under the ticker COST. This guide covers the complete COST stock split history, explains how stock splits work, analyzes what past splits tell us about the likelihood of a future split, and addresses what each scenario means for investors evaluating the stock today.

What Is a Stock Split?

A stock split is a corporate action in which a company divides its existing shares into multiple new shares, reducing the per-share price proportionally while keeping total market capitalization unchanged. The split creates no new value. It is a structural adjustment, not a financial windfall.

How a Stock Split Works

In a 2-for-1 split, a shareholder holding 10 shares at $100 each ends up with 20 shares at $50 each. The total position value remains $1,000. The math behind this is the market cap formula: market cap equals share price multiplied by shares outstanding. When the share price is halved, shares outstanding double, and the product stays constant. A stock split does not change the total value of your investment.

The split ratio tells you how many new shares you receive for each share you hold. Ratios are always written as X-for-1. In a 2-for-1 split, you receive two shares for every one you held. In a 10-for-1 split, you receive ten. The ratio directly determines the proportional reduction in per-share price. Unlike a reverse stock split, where shares are consolidated and the price per share rises, a forward split increases the number of shares and reduces the per-share price.

Why Do Companies Split Their Stock?

Companies split their stock for two primary reasons: to make shares more accessible to retail investors by reducing the per-share price, and to increase daily trading liquidity by broadening the pool of buyers and sellers. When a stock climbs into the hundreds or thousands of dollars per share, it can create a psychological and practical barrier for individual investors managing smaller portfolios. A split removes that barrier without changing the underlying business.

Costco has executed splits at each point in its history when the per-share price reached a level management considered a friction point for retail participation. The rise of fractional share investing has partially reduced the liquidity argument for splits, a topic covered in full below.

Costco Stock Split History

Costco has split its stock four times since going public, most recently in January 2025. The table below shows the complete COST stock split history on record.

Costco Stock Split History Table

The table below shows every Costco stock split on record, including the exact dates, split ratios, and approximate share prices at the time of each event. All prices are unadjusted (nominal) values at the time of the split. Source: Costco's official Investor Relations page and Costco's SEC EDGAR filings.

Note: All prices above are unadjusted nominal values at the time of each split. Many financial data providers, including Yahoo Finance, Macrotrends, and Bloomberg, display split-adjusted prices by default, which retroactively divide historical prices by the cumulative split factor. Always confirm which format you are viewing when researching historical COST price data.

Costco's earlier splits all used a 2-for-1 ratio. The January 2025 split used a 10-for-1 ratio, the largest in the company's history, reducing the per-share price by a factor of ten. That shift in scale reflects how far the share price had climbed since the previous split in 2000.

Costco's 2024 Stock Split Announcement and 2025 Effective Date

Costco's Board of Directors announced a 10-for-1 stock split in October 2024, the largest split in the company's history. The record date, meaning the cut-off date on which a shareholder must own shares to receive the split, was January 13, 2025. The effective date, when the split officially took place and new shares appeared in brokerage accounts, was January 14, 2025. Shares were trading at approximately $900 before the split and opened at approximately $90 on the effective date.

In practical terms, a shareholder who held one share at $900 woke up on January 14 with ten shares at $90 each. The total position value remained $900. No action was required from shareholders. Brokerages processed the adjustment automatically overnight. The 10-for-1 ratio is notably more aggressive than Costco's earlier 2-for-1 splits, reflecting the scale of the price appreciation between 2000 and 2024. The split brought the per-share price back into a range the board considered accessible for a broader pool of retail investors.

Trading volume picked up in the weeks following the October 2024 announcement, consistent with the pattern of increased retail interest that typically precedes and follows a major split decision.

Understanding Split-Adjusted Prices

The prices in the table above are unadjusted (nominal), meaning the actual prices at which shares traded before each split. When you look up COST's historical price data on platforms such as Yahoo Finance, Macrotrends, or Bloomberg, those services typically display split-adjusted prices by default. Split-adjusted pricing retroactively divides all historical prices by the cumulative split factor, so older data appears much lower than the nominal price at the time. Always verify which format you are viewing when researching NASDAQ historical price data for COST to avoid misreading the historical record.

How Costco Stock Performed After Each Split

Understanding how COST stock moved after each historical split provides useful context for investors evaluating the stock today. The data below is sourced from Yahoo Finance and NASDAQ historical price records. Past performance does not predict future results.

Post-Split Performance: COST Price at Split Date vs. 6 and 12 Months Later

Source: Yahoo Finance historical data. All prices are post-split adjusted for comparability within the table. Percentage changes are approximate and rounded.

The data shows a mixed picture. The 1993 split was followed by modest gains over twelve months. The January 2000 split landed in the early stages of the dot-com correction, and COST declined alongside the broader market over the following year. The February 2000 split recovered to modest gains by the twelve-month mark. COST's post-split performance has tracked broader market conditions more than the split event itself.

Splits are frequently associated with positive investor sentiment in the short term. The announcement of a split often signals that management expects the share price to continue rising, which can temporarily lift trading interest. That sentiment effect is real, but it does not translate into a structural improvement in the company's earnings or competitive position.

When Costco executes a split, your share count increases by the split ratio and your per-share dividend adjusts proportionally. If COST paid a $1.00 per-share quarterly dividend before a 2-for-1 split, the per-share dividend becomes $0.50 after the split. Your total dividend income remains unchanged because you now hold twice as many shares. A stock split is not a taxable event for shareholders. Reported earnings per share (EPS) is also adjusted proportionally after a split, and financial databases retroactively restate historical EPS figures to be comparable on a post-split basis. See Costco's dividend history page for the full record of regular and special cash dividends.

Will Costco Split Its Stock Again?

There is no automatic trigger that compels Costco to split its stock. The decision rests with Costco's Board of Directors, who must vote to authorize a split. Based on historical precedent, Costco has executed splits when shares climbed to price levels the board determined created accessibility friction for retail investors. As of June 2025, COST trades at approximately $95 per share following the January 2025 10-for-1 split. Here is what the data suggests about the conditions that would bring another split to the table.

How Costco's Split Decision Is Made

A Costco stock split begins with a vote by Costco's Board of Directors, the elected corporate governance body responsible for authorizing major corporate actions. Once the board votes to approve a split, Costco files an 8-K with the SEC. An 8-K is a current report filed with the SEC to announce material corporate events, including stock splits. That filing discloses the split ratio, the record date, and the effective date.

There is no formula, price threshold, or automatic mechanism that forces this process to begin. The board exercises discretion. The board decides whether the price is creating an accessibility problem. That judgment involves factors beyond the nominal share price: trading volume trends, the proportion of retail versus institutional ownership, and prevailing market conditions.

What Historical Split Prices Suggest

Costco has no publicly stated price threshold for triggering a stock split, but its historical split decisions do reveal a pattern. Looking at the approximate pre-split prices: Costco split in 1993 at roughly $56, in January 2000 at roughly $100, in February 2000 at roughly $60, and in late 2024 (effective January 2025) at roughly $900. The two-split sequence in 2000 is the clearest signal: the board was willing to split twice within weeks when the price returned to a level it considered elevated after the first split.

With COST trading at approximately $95 as of June 2025, the stock is well below any historical pre-split trigger level. History suggests the board does not act until shares are deep into the hundreds. Costco has historically traded at a premium price-to-earnings (P/E) ratio relative to retail peers, reflecting investor confidence in its membership model and earnings consistency. That premium valuation is part of why the nominal share price can climb quickly. Investors monitoring for a future split might watch for COST to climb back toward the $300 to $500 range as a preliminary signal, though no prediction can be made with confidence given the board's discretionary authority.

Do You Need to Wait for a Split to Invest in Costco?

A high per-share price no longer means a stock is out of reach for most retail investors. Fidelity and Charles Schwab both offer fractional share investing, as do Robinhood and Interactive Brokers. This allows you to buy any dollar amount of COST regardless of the per-share price. Fractional shares are a brokerage-level service. They are not a Costco corporate action and do not affect COST's share count or structure. You do not need to wait for a Costco stock split to gain exposure to COST shares.

A future stock split would not change Costco's market capitalization or the fundamental value of the business. Berkshire Hathaway's Class A shares (BRK.A) have never split and trade above $700,000 per share, illustrating that a high share price alone is not sufficient reason to expect a company to split its stock. The split decision is a management philosophy choice.

What Does a Costco Stock Split Mean for Investors?

A stock split does not change the fundamental value of Costco as a company, but it does change the context in which investors make decisions.

Historically, stock prices often rise in anticipation of a split announcement as investor interest and media attention build. That pre-announcement effect is a market sentiment response, not a reflection of any change in Costco's earnings, membership revenue, or dividend program. After the split, prices sometimes drift higher on increased retail trading activity, and sometimes retrace depending on broader market conditions, as the 2000 data above shows. Whether to invest before or after a potential split is a personal decision based on your investment goals, portfolio allocation, and risk tolerance. This article does not constitute investment advice. Consult a qualified financial advisor for decisions specific to your situation.

A stock split does not make Costco's stock a fundamentally more or less attractive investment. The underlying business, earnings trajectory, and competitive position are unchanged. Costco's investment case rests on its resilient membership model and consistent earnings growth. Its S&P 500 status and history of paying both regular quarterly and special cash dividends further underpin the long-term case. A split changes the per-share price and share count. It does not change any of those fundamentals.

After a stock split, COST shares continue to trade at the post-split price through any brokerage connected to the NASDAQ exchange. The ticker symbol COST remains unchanged. Fractional shares are available through Fidelity and Charles Schwab, among others, for investors who prefer to invest in specific dollar amounts rather than purchasing full shares.

How Costco's Stock Split History Compares to Other Major Companies

Costco's four stock splits place it in the middle of the spectrum among major publicly traded companies that have used splits to manage share price accessibility.

Walmart is the most aggressive splitter among major retailers, having split 11 times since going public in 1970, most recently with a 3-for-1 split in February 2024, its first split since 1999. Amazon held off for decades, much like Costco, before executing its landmark 20-for-1 split in June 2022 when shares traded above $3,000. Apple has split five times across its history, most recently a 4-for-1 split in August 2020. Tesla executed a 5-for-1 split in August 2020 and a 3-for-1 split in August 2022, demonstrating how rapidly a rising share price can prompt repeated action.

Not all high-priced companies choose to split. Berkshire Hathaway's Class A shares have never split and trade above $700,000, illustrating that the split decision is ultimately a management philosophy choice, not a price-level formula. Warren Buffett has deliberately avoided splitting BRK.A because he prefers a long-term shareholder base over short-term trading activity. Costco's approach aligns more closely with Amazon's and Walmart's: split selectively when the share price reaches a level the board considers a meaningful barrier to retail participation.

Frequently Asked Questions About Costco Stock Splits

How many times has Costco split its stock?

Costco has split its stock four times. The splits occurred in May 1993, January 2000, February 2000, and most recently in January 2025 (announced October 2024). The first three splits each used a 2-for-1 ratio. The 2025 split used a 10-for-1 ratio, the largest in the company's history, reducing the share price from approximately $900 to approximately $90.

What happens to your shares when Costco splits its stock?

Your brokerage automatically adjusts your account when a split takes place. Your share count increases by the split ratio, and the per-share price decreases proportionally. No action is required from you. Your total investment value does not change on the split date. For example, in a 2-for-1 split, 100 shares at $500 each become 200 shares at $250 each, and your total position remains $50,000.

Will Costco split its stock again?

As of June 2025, Costco's Board of Directors has not announced a new stock split. There is no automatic price trigger. The board decides based on share price levels and investor accessibility considerations. With COST trading at approximately $95 following the January 2025 10-for-1 split, the per-share price is well below historical levels that have prompted action. Based on historical patterns, a future split would most likely follow another extended period of price appreciation back toward the high hundreds.

Does a Costco stock split affect dividend payments?

Yes, dividends are adjusted proportionally. After a 2-for-1 split, the per-share dividend is halved, but since your share count doubles, your total dividend income is unchanged. Costco pays both a regular quarterly dividend and periodic special cash dividends, including a $15 per share special dividend in January 2024. Both types are adjusted per share after a split, but your total income position stays the same. See Costco's dividend history page for the current dividend schedule.

Should I buy Costco stock before or after a split?

A stock split does not change Costco's fundamental value. The business, its earnings, and its growth prospects are identical before and after a split. Whether to invest before or after a split depends on your personal investment goals and how much risk you are comfortable taking over your planned holding period. Historically, COST has performed well over long holding periods regardless of split timing, but past performance does not guarantee future results. Consult a qualified financial advisor before making personal investment decisions.

This article is for informational and educational purposes only and does not constitute investment advice, a solicitation, or a recommendation to buy or sell any security.

Has Walmart split its stock recently?

Yes. Walmart (NYSE: WMT) executed a 3-for-1 stock split in February 2024, its first split since 1999. This occurred the same year as Costco's split announcement, reflecting a broader trend of major retailers addressing share price accessibility as their stocks climbed to multi-decade highs.

Is Costco stock too expensive to buy without a split?

Not necessarily. Most major brokerages now offer fractional share investing, allowing you to invest in Costco with as little as $1, with no need to buy a full share. Fidelity, Charles Schwab, and Robinhood all offer fractional COST shares. A high per-share price is a psychological barrier, but it is no longer a practical barrier for most retail investors who use modern brokerage platforms.

The Bottom Line on Costco Stock Splits

Costco has split its stock four times, most recently with a 10-for-1 split effective January 2025 (announced October 2024), and has used splits selectively to keep shares accessible to retail investors at key points in the company's growth. Whether another split occurs will depend on Costco's Board of Directors and future share price levels. There is no automatic trigger, but the historical pattern of acting when prices climb deep into the hundreds provides a directional framework for monitoring. For investors concerned about the current share price, fractional shares are available through major brokerages today, removing any practical barrier to gaining COST exposure.

For official historical split data and any future split announcements, monitor Costco Investor Relations (investor.costco.com) directly. That page contains SEC filings, press releases, and shareholder communications that will carry any future split announcement before it appears anywhere else.

This article was last updated June 2025. Share prices, P/E ratios, and split data are subject to change. All historical price figures should be verified against primary sources before use.