5 Best Consumer Staples Dividend Stocks To Buy Now

4. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 66
Dividend Yield as of March 6: 0.76%

Costco Wholesale Corporation (NASDAQ:COST) is an American company that operates big-box retail stores. The company is headquartered in Washington. In March Deutsche Bank raised its price target on the stock to $575 with a Buy rating on the shares after the company posted solid fiscal Q2 earnings.

At the end of February 2023, Costco Wholesale Corporation (NASDAQ:COST) had roughly $13 billion available in cash and cash equivalents, up from $10.2 billion in the prior-year period. The company’s revenue for the quarter came in at $55.2 billion, which showed a 6.5% growth from the same period last year.

Costco Wholesale Corporation (NASDAQ:COST) currently offers a quarterly dividend of $0.90 per share, with a dividend yield of 0.76%, as recorded on March 6. The company is one of the best consumer staples dividend stocks on our list as it has been raising its dividends consistently for the past 18 years.

According to 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.”