Wall Street has decided to bulk up on Costco (NASDAQ: COST) stock again. The wholesale retailer's shares are back to beating the market in 2023 despite the fact that sales growth is slowing as people pull back spending in areas like electronics and home furnishings.

Costco's diverse merchandise approach, which includes a heavy proportion of consumer essentials, has helped keep traffic rising at stores. And its rising membership fee income is allowing earnings to hold steady even as peers report declining margins.

But has this good news already been fully reflected in the stock price, or can investors still see good returns from buying shares today? Let's take a closer look.

Continue reading

Source Fool.com