5 Blue Chip Stocks To Buy According To Billionaire Richard Chilton

2. Costco Wholesale Corporation (NASDAQ:COST)

Chilton Investment Company’s Stake Value: $243.36 million

Percentage of Chilton Investment Company’s 13F Portfolio: 5.84%

Number of Hedge Fund Holders: 61

Costco Wholesale Corporation (NASDAQ:COST) is an American multinational corporation that operates a chain of membership-only big-box retail stores. The company is one of the oldest holdings of Chilton Investment Company, as the hedge fund started investing in the company over a decade ago, purchasing shares worth over $33.5 million. As of Q1 2022, the company is the fifth-largest holding of the hedge fund, accounting for 5.84% of its 13F portfolio.

On June 2, Jefferies analyst Corey Tarlowe raised his price target on Costco Wholesale Corporation (NASDAQ:COST) to $580 from $560 and maintained a Buy rating on the shares as he took over coverage of the name. According to the analyst’s survey of 900+ warehouse club members about renewal intentions and shopping behaviors, the results proved to be “bullish” for Costco Wholesale Corporation (NASDAQ:COST). With renewal intentions appearing strong, data suggests there is an opportunity to raise membership prices, and members indicated that they are visiting clubs more frequently and spending more versus compared to prior surveys.

According to Insider Monkey’s database, Costco Wholesale Corporation (NASDAQ:COST) was spotted on 61 investment portfolios by the end of the first quarter of 2022. The total stakes of these funds in the company amounted to approximately $5.41 billion, up from $5.40 billion in the previous quarter with 57 positions. As of March 31, Fisher Asset Management is the largest stakeholder in Costco Wholesale Corporation (NASDAQ:COST), with stakes valued at $2.43 billion.

Here is what ClearBridge Investments had to say about Costco Wholesale Corporation (NASDAQ:COST) in its “Sustainability Leaders Strategy” fourth-quarter 2021 investor letter:

“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.”