Costco Wholesale Corp. shares demonstrated a decline after Wednesday’s market close, when the largest wholesale warehouse operator reported a 10.6 percent growth in net sales to 29.2 billion dollars. The price correction occurred due to investor concerns regarding a slowdown in core growth rates, hidden behind the retailer’s strong overall metrics.

Costco shares fell by about 4 percent during the trading session, dropping to around 913 US dollars per share. The current decline pulled the company’s stock nearly 17 percent below its 52-week high amid the release of adjusted data.

The recent stock price at a level of around 46 times annual earnings, which is significantly above the market average, forces Wall Street to evaluate the issuer’s results extremely demandingly. Excluding volatile gasoline prices and currency fluctuations, core comparable sales growth in the US stood at 7.6 percent compared to 8.7 percent in May, pointing investors toward a local cooling of momentum.

Costco cleared the expectation bar in the digital segment, where online sales surged by 21.5 percent, and membership renewal rates remained at an industry-record high. Nevertheless, the company’s high market valuation left no room for compromise, and even maintaining the regular quarterly dividend of 1.47 dollars per share failed to prevent investors from locking in profits.