5 Best Consumer Staples Stocks To Buy Now

In this article, we will look at 5 best consumer staples stocks to buy now. If you want to see our detailed discussion about the consumer staples industry which highlights key trends and major players, you can go to 12 Best Consumer Staples Stocks To Buy Now.

5. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 57

This March, Costco Wholesale Corporation (NASDAQ:COST) put forth its earnings report which detailed the company’s earnings for the fiscal second quarter of 2022. Costco Wholesale Corporation (NASDAQ:COST) generated revenues of $51.90 billion for the quarter, up 15.94% year over year, and beat revenue estimates by $395.81 million. The company reported earnings per share of $2.92, beating EPS estimates by $0.18. The stock is among the top 5 consumer staples stocks to buy now given its solid earnings, increasing momentum, and strong demand for the company’s products.

On April 13, Costco Wholesale Corporation (NASDAQ:COST) announced that its board of directors has increased its quarterly common-stock cash dividend from $0.79 to $0.90, which amounts to $3.60 on an annualized basis. The dividend is payable on May 13 to investors of record on April 29. Then on April 14, Tigress Financial analyst Ivan Feinseth raised his price target on Costco Wholesale Corporation (NASDAQ:COST) to $678 from $520 and maintained a Buy rating on the shares. The analyst said that the company is experiencing strong consumer demand and membership growth, driving its shares to soar. As of April 22, Costco Wholesale Corporation (NASDAQ:COST) has gone up by 57.06% over the past twelve months.

Costco Wholesale Corporation (NASDAQ:COST) was spotted on 57 investment portfolios at the close of the fourth quarter of 2021. The collective stakes of these funds in the company amounted to $5.40 billion, up from $4.39 billion in the preceding quarter with 55 identified positions. Fisher Asset Management is the largest stakeholder in Costco Wholesale Corporation (NASDAQ:COST) as of December 21, 2021. The fund’s stakes in the company were valued at $2.31 billion, which makes up for 1.29% of the fund’s 13F portfolio.

ClearBridge Investments is bullish on Costco Wholesale Corporation (NASDAQ:COST) and mentioned the stock in its fourth-quarter 2021 investor letter. 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.”