Costco Stock: Is It Finally About to Pop?
If you're like many Americans, not only do you have a Costco Wholesale (NASDAQ: COST) membership, but you've been shopping at the company's warehouses more as inflation has made it harder to stretch your dollar.
Unlike most other retailers, Costco continues to post higher-than-usual sales growth even as pandemic boosts have made way for inflation busts. However, in the most recent earnings reports, even the recession-proof Costco has been showing signs of slowing down.
The stock faltered after the latest report in September, and it's down 17% this year. Shares are now trading at 36 times trailing-12-month earnings, down from close to 50 earlier in the year and in line with historical norms. Is now the right time to buy?
Source Fool.com
