5 Best Organic Food Stocks To Invest In

1. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 61

Costco Wholesale Corporation (NASDAQ:COST) is the second-largest retailer in the world but is the world’s largest retailer of organic food products.

This April, the big-box retailer released earnings for the fiscal third quarter of 2022. The company registered an EPS of $3.04 and beat expectations by $0.02. The company’s revenue for the quarter amounted to $52.60 billion, up 16.16% year over year, and beat Wall Street consensus by $1.11 billion. As of June 10, Costco Wholesale Corporation (NASDAQ:COST) has appreciated by 23.25% over the past twelve months.

Costco Wholesale Corporation (NASDAQ:COST) is experiencing increasing demand for its products. Recently, the company reported its sales volumes for May 2022, which came in at $18.23 billion, up 16.9% year over year.

This June, Atlantic Equities analyst Daniela Nedialkova noted Costco Wholesale Corporation (NASDAQ:COST) has continuously delivered “strong comp momentum” while she reiterated her Overweight rating and $615 price target on the stock.

Hedge funds are piling into Costco Wholesale Corporation (NASDAQ:COST). Insider Monkey found 61 hedge funds bullish on Costco Wholesale Corporation (NASDAQ:COST) with stakes worth $5.41 billion at the end of Q1 2022. This is compared to 57 hedge funds in Q4 2021 with stakes worth $5.40 billion. The hedge fund sentiment around Costco Wholesale Corporation (NASDAQ:COST) is positive.

As of March 31, Fisher Asset Management is the most bullish hedge fund on Costco Wholesale Corporation (NASDAQ:COST). Ken Fisher’s hedge fund increased its stakes in Costco Wholesale Corporation (NASDAQ:COST) in the first quarter of 2022 by 4%, bringing them to $2.43 billion.

ClearBridge Investments mentioned several companies in its “Sustainability Leaders Strategy” fourth-quarter 2021 investor letter, one of which was Costco Wholesale Corporation (NASDAQ:COST). Here is what the firm said:

“Portfolio gains were led by a diverse group of contributors. Also in consumer discretionary, Costco, which operates a chain of membership-only big-box retail stores, continues to impress as it takes to share and becomes more relevant for the consumer even as the world opens up.”

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