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Costco CDR (CAD Hedged)
Symbol COST
Shares Issued 7,200,000
Close 2024-12-03 C$ 45.56
Market Cap C$ 328,032,000
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Globe says Velocity's Gardner sticks with Costco

2024-12-04 08:32 ET - In the News

The Globe and Mail reports in its Wednesday edition that Brianne Gardner expects stock markets to finish strong this year and maintain their momentum well into 2025, driven by rising corporate profits and economic growth in the United States. The Globe's Brenda Bouw writes that Ms. Gardner at Velocity Investment Partners in Vancouver is a big fan of Costco Wholesale, the warehouse club retail chain. She bought Costco shares in June, 2022, at $298 and again in April, 2023, at $560 (all figures U.S.). The stock is now around $920. She has already reduced her portfolio's exposure to Canadian stocks and increased its U.S. holdings on the belief that economic growth south of the border will be stronger in the months ahead. "We've managed our position actively over the years, trimming and adding when we see opportunities," Ms. Gardner told The Globe. "Costco has benefited significantly in recent years from consumers looking to save money on groceries and other household goods. Sales have been rising steadily over the past year. The company's membership model is its backbone. It's also expanding worldwide, including adding more stores in China. We continue to hold this stock but would wait for a pullback before adding more."

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