5 Best Consumer Stocks To Buy Now

4. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 64

% Weight of iShares Global Consumer Staples ETF as of September 22: 4.24

Costco Wholesale Corporation (NASDAQ:COST) is a retail company whose stores offers a wide range of products, including food, hardware, toys, sporting goods, jewelry, electronics, clothing, health and beauty aids, and other items. 

Given its scale, Costco Wholesale Corporation (NASDAQ:COST) has been consistently profitable despite economic challenges. As a result of its profitability, the company has a strong dividend history and has raised its dividend every year for the last 17 years. As of September 25, the stock’s dividend yield stood at 0.77%.

Costco Wholesale Corporation (NASDAQ:COST) is also popular with hedge funds. According to Insider Monkey’s Q2 data, 64 hedge funds had stakes in Costco Wholesale Corporation (NASDAQ:COST) ). The total value of the holdings is approximately $4.8 billion.

In its Q2 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Costco Wholesale Corporation (NASDAQ:COST) was one of them. Here is what the fund said:

Portfolio gains were led by a diverse group of contributors. Also in consumer discretionary, Costco Wholesale Corporation (NASDAQ:COST), 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.