Jim Cramer Looks Back On Costco's (COST) Share Price Performance

We recently published 10 Stocks On Jim Cramer’s Mind & His Thoughts On Enterprise AI.  Costco Wholesale Corporation (NASDAQ:COST) is one of the stocks on Jim Cramer's mind.

Warehouse club Costco Wholesale Corporation (NASDAQ:COST) is one of Cramer’s favorite stocks. Even though the shares are down by 4% over the past year, the CNBC TV host has remained an ardent believer in the firm. Among the factors that drive his optimism are Costco Wholesale Corporation (NASDAQ:COST)’s ability to keep prices low for consumers and its scale. Earlier this month, the firm reported its sales results for January. During the first 22 weeks of its fiscal year, Costco Wholesale Corporation (NASDAQ:COST) earned $123 billion in sales while its comparable sales grew by 7.1% in January. During the month, the firm’s sales were $21.3 billion. On the 20th, Citi discussed the shares. It raised the share price target to $1,000 from $990 and kept a Neutral rating on the shares. In this appearance, Cramer discussed Costco Wholesale Corporation (NASDAQ:COST)’s historical share price movement and valuation:

“When Costco got to this multiple, it stopped. Now Costco is a fast grower, and they couldn’t, remember at 50 times earnings, it just phchueng, phchueng. . .Costco no that was the beginning of a big decline, and then it’s come back but if you look at the spread, I mean Costco used to be twice the multiple of Walmart.”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.