Charlie Munger discovered this stock 30 years before Warren Buffett died: Here’s what it’s doing now – Costco Wholesale (NASDAQ:COST)

“I love everything about Costco,” late veteran investor Charlie Munger Said as early as February 2023 at the Daily Daily Annual General Meeting.

Going forward, Zoom reported that its revenue and earnings per share for the first quarter of fiscal 2025 both exceeded analyst expectations.

What happened: Munger, who passed away last year, costco wholesale company cost Board until death. The seat was first offered to Warren Buffett in 1997, but he turned it down, saying retail was a difficult business.

On the other hand, Munger appreciates Costco’s business model and recognizes its unique retail approach, including efficient operations, low prices and membership models.

“I’m a total junkie and I will never sell stock,” Munger said at the shareholder meeting.

“I hope everything else in America goes as smoothly as Costco. Think about it, what a blessing it is to all of us,” he said in early 2022.

The company’s stock has gained 4,536% since 1997, according to Benzinga Pro.

Why it’s important: Costco management highlighted four new milestones the company achieved in the first quarter.

According to the company’s president and CEO Ron Vacris”, “Costco Logistics completed nearly 1 million deliveries in the first quarter, with more than 196,000 deliveries completed last week alone. Costco continues to gain market share in e-commerce, he said during an earnings call with analysts Thursday.

Second, Costco’s U.S. bakery division “sold a record 4.2 million pies in the three days before Thanksgiving,” Vachris said.

Speaking of the pharmaceuticals business, Vachris added: “Our U.S. pharmaceuticals business saw prescription drug growth of more than 19% in the first quarter, setting a new sales record for the business.” Finally, on Halloween, Costco “set a new sales record in its food courts.” Delivered a new record of 274,000 whole pizzas.”

“All of these milestones reflect the continued strength of our business in member services,” Vaklis said.

See also: Costco’s first-quarter earnings: revenue growth, EPS growth, combined costs up 5.2%, membership fee growth and more

What analysts say: According to Benzinga, Costco’s consensus price target is $954.38, based on ratings from 26 analysts. Among all analysts tracked by Benzinga, Jefferies has the highest price target as of December 5, 2024, of $1,145. .

The average price target among Telsey Advisory Group, Oppenheimer, and Jefferies is $1,073.33, which implies a price target of 10.10% for Costco.

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