Jim Cramer’s Latest Thoughts on These 17 Stocks

1. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 93

Costco Wholesale Corporation (NASDAQ:COST) is one of the stocks Jim Cramer shared his thoughts on. During the episode, Cramer mentioned the stock while discussing its June monthly sales growth, as he said:

“There was a lot of talk about Costco, same store sales, not great… Costco, which reported June monthly sales last night after the close, delivered 5.5% US comparable sales growth, ex gasoline, when the Street was looking for a 6. Woo, disappointing, right? How disappointing? How about enough to send the stock down almost 12 points today? Is that wrong or is that right? I think it’s wrong. I like Costco, the store, very much, and I’m always looking for a chance to buy Costco, the stock, on weakness for the Charitable Trust… And boy is it ever tempting if we didn’t own so much Costco already to do some buying.

Why? Well, Costco’s been a long-time position of the trust because I love to shop there, and I love the business model where the company offers a limited number of goods at ultra-low prices and makes its money on your membership dues. The most articulate defender of Costco was the late Charlie Munger, Warren Buffett’s right-hand man on the board of Berkshire Hathaway… To me, Costco’s hundred-point discount from its high is about as good as you’re going to get.

JPMorgan, which has a Buy on the stock, says that Costco has been a ‘source of funds for big institutions of late,’ but they think that’s about to come to an end as the year-over-year comparisons are going to get easier. Now go back to what I said about how much of Wall Street acts like there’s never a good time to buy these high-quality stocks.

I think the truth is the opposite. There’s always a good time to buy shares in a great company, and it’s when the conventional wisdom says that a 5.5% same-store sales number, much better than almost any other company I follow, is somehow a real shortfall. I think Costco’s an amazing company, and this is the kind of buying opportunity that just doesn’t come along very often.”

Costco (NASDAQ:COST) operates membership-based warehouses and e-commerce platforms. The company provides a wide range of branded and private-label products, including groceries, electronics, appliances, apparel, and household goods, along with services such as pharmacies, optical centers, tire installations, and business delivery.

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