The report didn't blow us away, but it still offered plenty of reminders on why Costco investors should stick around.
Total revenue in its fiscal 2024 fourth quarter totaled $79.7 billion, missing analysts' expectations of $79.97 billion, according to estimates compiled by LSEG.
Costco has succeeded for decades, but the high inflation of recent years has made the company's value-focused ethos really shine.
Put it all together, we're increasing our price target on the stock to $950 a share from $875.
In the quarter, Costco's membership renewal rate in the U.S. and Canada came in at 92.9%, a tick lower than the 93% rate observed in the third fiscal quarter, while worldwide held constant at 90.5%.
Persons:
Gary Millerchip, Ron Vachris, Millerchip, it's, Kirkland, Costco's, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan
Organizations:
Costco, LSEG, Wholesale, Walmart, Club, Amazon, Costco's, Kirkland, Kirkland Signature, Management, U.S, CNBC
Locations:
Costco's, Yemen, U.S, Canada, Maine, Richmond , California