COST - Costco Is Up 32% in 2024: Could the Stock-Split Candidate Hit $1000 per Share by the End of the Year?
2024-07-06 18:04:00 ET
Large- and megacap stocks have performed well in 2024. Retail giant Costco (NASDAQ: COST) hasn't missed the party with the stock up 32% year to date. Its chain of membership warehouse clubs is gaining market share in the United States and putting up strong growth across its in-person and e-commerce operations, impressing investors.
At $863 per share as of this writing, it could be a future stock-split candidate. Will the stock reach $1,000 by year-end, and is it a buy at these prices? Let's investigate.
The COVID-19 pandemic was a boon for retailers such as Costco. Revenue growth accelerated, pushing annual sales from $150 billion to $200 billion over just a few years. But unlike other retailers, Costco did not face a pandemic growth hangover. In fact, the company has continued to post strong growth and recently surpassed $250 billion in annualized sales.
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Costco Is Up 32% in 2024: Could the Stock-Split Candidate Hit $1,000 per Share by the End of the Year?