5 Best Grocery Stocks to Buy

2. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 69

Costco Wholesale Corporation (NASDAQ:COST) is an American chain of membership-only big-box retail stores selling groceries, electronics, computers, furniture, outdoor living, appliances, jewelry, and household essentials along with other things. The company has nearly 840 locations across 15 countries.

In 2022, Costco Wholesale Corporation (NASDAQ:COST) reported revenue growth of 15.8% and EPS growth of 16.6%.

According to our database, Costco Wholesale Corporation (NASDAQ:COST) was a part of 69 investment portfolios in Q3 2022, up from 64 in the previous quarter. Fisher Asset Management was the most significant shareholder in the quarter with over 2.5 million company shares worth over $1.2 billion.

On December 1, Truist analyst Scot Ciccarelli maintained a Buy rating on Costco Wholesale Corporation (NASDAQ:COST)’s shares and trimmed the price target to $557 from $559.

Here is what ClearBridge Investments had to say about Walmart Inc. in its Q2 2021 investor letter:

“The pandemic has created challenges for businesses large and small; one major challenge for large essential retailers such as ClearBridge holdings Home Depot, Walmart, and Costco has been ensuring adequate staffing to meet demand under trying conditions. All three instituted enhanced pay practices during the pandemic, with raises, unplanned bonuses and other benefits helping compensate employees for their efforts in a difficult environment. In September 2020 Walmart raised wages for 165,000 employees, including a number of entry positions to $15 an hour. It followed this in February with a raise for 425,000 workers that moved its average pay above $15 an hour.”