In this article, we discuss 5 best defensive stocks for an upcoming crash. If you want to read about some more defensive stocks, go directly to 11 Best Defensive Stocks For An Upcoming Crash.
5. Costco Wholesale Corporation (NASDAQ:COST)
Number of Hedge Fund Holders: 64
Costco Wholesale Corporation (NASDAQ:COST) engages in the operation of membership warehouses. It is one of the top defensive stocks to invest in. The firm posted earnings for the fourth fiscal quarter on September 22, reporting earnings per share of $4.20, roughly in line with market estimates. The revenue over the period was $72 billion, up more than 15% compared to the revenue over the same period last year and beating analyst expectations by $90 million.
On September 12, UBS analyst Michael Lasser maintained a Buy rating on Costco Wholesale Corporation (NASDAQ:COST) stock with a price target of $595, noting the firm was expected to post a healthy upside for the fourth quarter of 2022.
Among the hedge funds being tracked by Insider Monkey, Washington-based Fisher Asset Management is a leading shareholder in Costco Wholesale Corporation (NASDAQ:COST), with 4.3 million shares worth more than $2.1 billion.
“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.”