Why Now Is a Great Time to Buy Costco Stock
Costco Wholesale (NASDAQ: COST) is a reliable stock for gains and dividends. However, despite sales starting to sag this year, the price keeps climbing. Costco stock is up 22% in 2023, and it trades at a price-to-earnings ratio of 41. That's above its one-, three-, and five-year averages.
However, I would still recommend buying Costco stock, even at this price. I'll tell you why.
Pre-pandemic, Costco reported mid-to-high single-digit comparable-store (or comps) growth on average for many years. That kind of reliable growth, along with increasing profitability, gained legions of investing fans.
Source Fool.com
