Costco Stock Trounced the S&P 500 in the First Half of 2024, but Can It Keep the Momentum Up for the Next 6 Months?
Costco Wholesale's (NASDAQ: COST) stock had a particularly good first half of 2024, rising nearly 29%. That's roughly twice the gain of the S&P 500 index over that time frame. Before you're lured in by the stock's obvious momentum, you might want to step back and check out the business you are buying -- and especially how much you are paying for it.
Costco's fiscal year doesn't end in December, so its earnings get reported a little off the typical cadence that many companies follow. Thus, in late May, it posted fiscal third-quarter 2024 financial results. The numbers were pretty good, which isn't at all surprising given the long-term success the club store retailer has achieved.
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Source Fool.com
