5 Blue Chip Stocks to Buy Now According to Billionaire Ray Dalio

In this article, we will take a look at the 5 Blue Chip Stocks to Buy Now According to Billionaire Ray Dalio. To read our analysis of Ray Dalio’s profile, and investment strategy, as well as the risk/reward and methodology of this list, you can go to the 10 Blue Chip Stocks to Buy Now According to Billionaire Ray Dalio.

5. Costco Wholesale Corporation (NASDAQ:COST)

Bridgewater Associates’ Stake Value: $580,455,000

Percentage of Bridgewater Associates’ 13F Portfolio: 2.45%

Number of Hedge Fund Holders: 64

Costco Wholesale Corporation (NASDAQ:COST), based in Washington, is a leading global retailer with 838 warehouses in 11 countries catering to small- to medium-sized businesses as well as individual customers. It serves only members and boasts more than 116 million cardholders and 64 million households.

As of Q2 2022, Ray Dalio’s Bridgewater Associates holds 1,211,098 shares of Costco Wholesale Corporation (NASDAQ:COST), accounting for 2.45% of the 13F portfolio of the hedge fund. The hedge fund increased its stake by 2% in Q2 2022, as compared to the previous quarter.

Costco Wholesale Corporation (NASDAQ:COST) released the sales results for the quarter ended August 28, 2022, whereby its revenue increased by 15% y-o-y to $70.8 billion. Earlier in July, the company had declared a quarterly cash dividend of $0.90 per share.

In September, Loop Capital analyst Laura Champine lowered the price target on Costco Wholesale Corporation (NASDAQ:COST) shares to $585 from $610 but maintained a ‘Buy’ rating on the shares.

As of Q2 2022, 64 of the 895 hedge funds tracked by Insider Monkey owned shares of Costco Wholesale Corporation (NASDAQ:COST), valued at $4.8 billion. Ken Fisher’s Fisher Asset Management is its largest shareholder with ownership of 4.3 million shares valued at $2.1 billion.