5 Best Stocks to Buy to Protect Against Inflation in 2022 and Beyond

4. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 61

Costco Wholesale Corporation (NASDAQ:COST) is one of the companies that has managed to maintain consumer demand for its products even with rising inflation, which makes it an inflation-proof stock to invest in. This can be reflected in the company’s revenue for the fiscal third quarter of 2022 which was announced this April. The company reported a revenue of $52.60 billion, up 16.16% year over year, ahead of expectations by $1.11 billion. The company also reportedly experienced increasing sales volumes for May 2022. As reported on June 2, Costco Wholesale Corporation (NASDAQ:COST) reported that its sales volume for May 2022 came in at $18.23 billion, up 16.9% year over year.

Analysts are bullish on Costco Wholesale Corporation (NASDAQ:COST). Shortly after the company reported its sales volume for May 2022, Jefferies analyst Corey Tarlowe raised his price target on Costco Wholesale Corporation (NASDAQ:COST) to $580 from $560 and maintained a Buy rating on the shares.

Hedge funds are raising their stakes in Costco Wholesale Corporation (NASDAQ:COST). Insider Monkey found 61 hedge funds long Costco Wholesale Corporation (NASDAQ:COST) at the end of Q1 2022 with stakes worth $5.41 billion. This is compared to 57 hedge funds in Q4 2021 with stakes worth $5.40 billion.

As of the first quarter of 2022, Ken Fisher’s Fisher Asset Management is the top shareholder in Costco Wholesale Corporation (NASDAQ:COST) with stakes worth $2.43 billion.

ClearBridge Investments mentioned several companies in its “Sustainability Leaders Strategy” fourth-quarter 2021 investor letter, one of which was Costco Wholesale Corporation (NASDAQ:COST). Here is what the firm had to say:

“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.”