That impressive growth gives Costco plenty of latitude to raise its membership fees (as it has done every five to six years) to offset inflation and other macroeconomic headwinds. Costco's higher valuation could limit its upside potential in this volatile market, which favors cheaper value plays over stocks with a premium. Costco (NASDAQ: COST) has endured four major U.S. recessions since the company went public in 1985.