Beyond the Tech Giants: 35 Non-Tech AI Opportunities

3. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 71

Costco Wholesale Corporation (NASDAQ:COST) engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, and Australia. Earlier this week, the firm reported a more than 7% rise in monthly net sales, which came in at above $19.8 billion for August. This was compared to $18.5 billion in net sales over the same month last year. Total company comparable sales for August were 5%, while US comparable sales were 4.7%. For the first 52 weeks of this year, net sales stood at close to $250 billion, an increase of 5% from last year.

Costco Wholesale Corporation (NASDAQ:COST) is one of the favorite retail stocks on Wall Street. Morgan Stanley analyst Simeon Gutman recently raised the price target on the stock to $950 from $855 and kept an Overweight rating, noting that the growth drivers for the retail giant were durable, and both historical performance as well as the overall view of the future of retail pointed to further upside.