5 Best Dividend Stocks For Rising Interest Rates

3. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 66
Dividend Yield as of April 4: 0.72%

Costco Wholesale Corporation (NASDAQ:COST) is an American big-box retail company. Roth MKM lifted its price target on the stock to $494 in March with a Neutral rating on the shares, presenting a conservative outlook on the company’s performance this year.

Costco Wholesale Corporation (NASDAQ:COST), one of the best dividend stocks, currently pays a quarterly dividend of $0.90 per share for a dividend yield of 0.72%, as of April 4. The company has been rewarding shareholders with growing dividends for 18 years now.

As per Insider Monkey’s Q4 2022 database, 66 hedge funds owned stakes in Costco Wholesale Corporation (NASDAQ:COST), with a total value of $3.4 billion.

Madison Funds mentioned Costco Wholesale Corporation (NASDAQ:COST) in its Q4 2022 investor letter. Here is what the firm has to say:

“Costco Wholesale Corporation (NASDAQ:COST) stock fell after November sales results showed a slowing consumer. The slower November sales were followed by a slight first quarter miss with lower-than-expected margins. Costco commented that they are not seeing trade-down but private label penetration has increased modestly. Traffic continues to be positive, and Costco remains well-positioned in a more challenging macro environment due to its strong value proposition.”