5 Best Consumer Staples Stocks to Buy Now

2. Costco Wholesale Corporation (NASDAQ: COST)

Number of Hedge Fund Holders: 61  

Costco Wholesale Corporation (NASDAQ: COST) is a Seattle-based retail seller. It was founded in 1983 and is placed second on our list of 10 best consumer staples stocks to buy now. The company is one of the largest retail brands in the world with operations in tens of different countries. The firm aims to open warehouses in New Zealand and Sweden next year. Costco sells packaged foods, groceries, beverages, cleaning supplies, electronics, and other items. It has a market cap of more than $160 billion. 

Costco Wholesale Corporation reported strong sales growth in April, posting more than $18 billion in sales for a five week period beginning in March, an increase of more than 17% compared to the same period last year. Investment advisory UBS gave Costco an Outperform rating the same month. 

At the end of the fourth quarter of 2020, 61 hedge funds in the database of Insider Monkey held stakes worth $3.6 billion in the firm, down from 73 in the preceding quarter worth $3.8 billion.