What's Going On With Costco Shares Today?
Portfolio Pulse from Lekha Gupta
Costco Wholesale Corporation (NASDAQ:COST) shares are trading flat today despite reporting strong sales growth for May and the first 39 weeks of FY24. The company also beat Q3 FY24 revenue and EPS estimates. Additionally, General Motors (NYSE:GM) is leveraging the Costco Auto Program for its EVs. Investors can gain exposure to Costco via SPDR Select Sector Fund – Consumer Staples (NYSE:XLP) and Fidelity MSCI Consumer Staples Index ETF (NYSE:FSTA).
June 10, 2024 | 2:28 pm
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POSITIVE IMPACT
Costco reported strong sales growth for May and the first 39 weeks of FY24, and beat Q3 FY24 revenue and EPS estimates. Shares are trading flat today.
Costco's strong sales growth and better-than-expected Q3 results are positive indicators for the stock. However, the flat trading suggests the market may have already priced in these results.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Costco through the Fidelity MSCI Consumer Staples Index ETF (FSTA).
FSTA includes Costco, and strong performance by Costco could positively impact the ETF.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
General Motors is increasingly using the Costco Auto Program for its EVs, expanding its portfolio to mass-market segments.
GM's partnership with Costco for its EVs could boost sales and market penetration, positively impacting the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Investors can gain exposure to Costco through the SPDR Select Sector Fund – Consumer Staples (XLP).
XLP includes Costco, and strong performance by Costco could positively impact the ETF.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50