COST - 3 Reasons to Buy Costco Stock Like There's No Tomorrow
2024-07-17 06:47:00 ET
Costco Wholesale 's (NASDAQ: COST) stock has risen 614% over the last decade, far and away outperforming rivals like Walmart and Target (which increased 170% and 155%, respectively). The company has attracted consumers worldwide to its warehouses, where it offers access to market-low prices for the cost of an annual membership.
In over 40 years of operation, Costco has built an almost cult-like following with its customers, boasting a 90% membership renewal rate globally. As a result, the company's stock has become one of the most reliable long-term investment options, rallying Wall Street with consistent earnings growth and expansions abroad.
Costco's share price hit an all-time high this month, reaching just under $843 per share. The company's stock has fallen slightly since yet remains a screaming buy after announcing its first membership fee hike in seven years and expansions outside brick-and-mortar retail.
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3 Reasons to Buy Costco Stock Like There's No Tomorrow