Jim Cramer: Costco Shows a Sign of Confidence With Dividend Boost
Costco hiked its dividend Wednesday, April 16.
Costco is a holding in Jim Cramer's Action Alerts PLUS portfolio.
"Wednesday night, Costco (COST) reported its sales results for the retail month of March, the five weeks ended April 5, 2020. Comparable sales in the United States, excluding the impact from gas prices and FX, increased 12.1%," wrote Jim Cramer's Action Alerts PLUS team.
This dividend boost comes after impressive sales numbers in March.
"The retailer’s comparable U.S. sales excluding fuel - a key metric watched by analysts - rose 12.1%, a good number but far below the 24.1% average estimate compiled by Consensus Metrix. Including fuel, total comparable sales for March came in at 9.6% vs. estimates of 19.1%, according to Consensus Metrix," wrote M. Corey Goldman.
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