5 Best Department Store Stocks To Invest In

4. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 57

Costco Wholesale Corporation (NASDAQ:COST) is one of the best department store stocks to watch. On March 7, Costco Wholesale Corporation (NASDAQ:COST) announced its operating results for the quarter ended February 18, 2024. The company reported a non-GAAP EPS of $3.71, beating market consensus by $0.07. However, the revenue of $58.44 billion missed Wall Street estimates by $690 million. 

According to Insider Monkey’s fourth quarter database, 57 hedge funds were bullish on Costco Wholesale Corporation (NASDAQ:COST), compared to 65 funds in the last quarter. Ken Fisher’s Fisher Asset Management is the biggest position holder in the company, with 2.8 million shares worth $1.8 billion. 

Madison Sustainable Equity Fund stated the following regarding Costco Wholesale Corporation (NASDAQ:COST) in its fourth quarter 2023 investor letter:

“Costco Wholesale Corporation (NASDAQ:COST) reported solid holiday results and announced a special dividend of $15 per share. Earnings were better than expected driven by better gross margin. Same store sales were 3.9% with solid traffic. Costco also noted better discretionary trends and solid seasonal sales.”

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