Costco stock on a tear, still worth owning, Barron’s says

As big retailers strive to become one-stop shops, there’s still just one place where you can fill up your shopping cart, your gas tank, and your heart, judging by the internet’s love of Costco (COST) dates. And that makes Costco Wholesale a stock that is still worth owning, Teresa Rivas writes in this week’s edition of Barron’s. Costco’s consistent dominance means that the stock is rarely cheap, and at 37 times forward earnings, it is above its five-year average of 34 times. Yet retail winners across the spectrum, from Walmart (WMT) to Lululemon Athletica (LULU), are commanding premiums. Costco’s shares don’t look that pricey for the earnings power they offer, the author adds.