This might be the perfect time to bulk up on Costco Wholesale (NASDAQ: COST) stock. Sure, the warehouse club retailing giant's shares don't look especially cheap following a 2023 rally. And a growth investor can find much higher profitability outside of this brutally competitive industry.

Yet Costco has consistently demonstrated a knack for earning its premium stock valuation, and for delivering plenty of cash directly to shareholders. Let's look at how the company might continue to impress investors in 2024 and beyond.

Wall Street likes few things more than seeing a company post accelerating sales growth. That's true for small businesses that are just building out their market positions, but it's even more impressive in the case of an established leader like Costco, which books over $200 billion in sales each year.

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Source Fool.com