14 Best FMCG Stocks To Buy Now

3. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 67

Costco Wholesale Corporation (NASDAQ:COST) operates a global network of membership warehouses primarily under the “Costco Wholesale” brand, offering high-quality, brand-name products at significantly reduced prices compared to conventional wholesale or retail sources.

On June 7, Deutsche Bank reiterated its positive outlook on Costco Wholesale Corporation (NASDAQ:COST), maintaining a Buy rating and a price target of $925.00. The retail giant is praised for its resilience in a volatile consumer market, showing steady adjusted U.S. core comparable sales growth of 5.7%. This performance aligns with the previous month’s results and is bolstered by an increase in both U.S. and global customer traffic.

Costco Wholesale Corporation (NASDAQ:COST)’s discretionary segment performed robustly, with same-store sales (SSS) growing in the mid-single to high-single digits in June, marking a slight improvement from the previous month. Additionally, e-commerce was a strong performer for the retailer, with a 15.4% increase compared to 14.8% in April.

According to Insider Monkey’s first-quarter database, 67 hedge funds expressed bullish sentiments towards Costco Wholesale Corporation (NASDAQ:COST), up from 57 in the previous quarter. Fisher Asset Management, led by Ken Fisher, holds the largest position in the company, with 2.86 million shares valued at $2.09 billion.

Madison Sustainable Equity Fund stated the following regarding Costco Wholesale Corporation (NASDAQ:COST) in its fourth quarter 2023 investor letter:

“Costco Wholesale Corporation (NASDAQ:COST) reported solid holiday results and announced a special dividend of $15 per share. Earnings were better than expected driven by better gross margin. Same store sales were 3.9% with solid traffic. Costco also noted better discretionary trends and solid seasonal sales.”