Costco Wholesale Corporation (COST)’s A Short Term Disappointment With Long Term Potential, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Talked About As He Warned About “Have-Not” Stocks. Costco Wholesale Corporation (NASDAQ:COST) is one of the stocks Jim Cramer recently discussed.

Costco Wholesale Corporation (NASDAQ:COST) is a discount retailer and one of the largest of its kind in America. Its shares The shares are up by 3.8% year-to-date as they are yet to recover from their massive 15% drop in March. The March dip came after a poor earnings report, and Costco Wholesale Corporation (NASDAQ:COST)’s stock also dipped in June after its May same-store sales growth fell short of analyst estimates. Here’s what Cramer said about the firm:

“It’s good to see that Costco is finally reacting. It’s been a very big disappointment, short term, but not long term.”

Copyright: kzenon / 123RF Stock Photo

Cramer was upbeat about Costco Wholesale Corporation (NASDAQ:COST) in his previous remarks:

“Well, you know what, I am glad you called me on Costco. I was just, I was actually kind of mulling over this one with Jeff Marks, my colleague on the club, and I have to tell you, I am sick and tired of the stock going down. People feel 51 times earnings is too expensive. I think that’s wrong. I think they’re doing everything right. Every check indicates to me that it’s time to start buying some if you don’t have any, and if you have some, perhaps you should buy some more.”

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.