5 Dividend Stocks to Buy According to Bryan Hinmon’s Motley Fool Asset Management

4. Costco Wholesale Corporation (NASDAQ:COST)

Motley Fool Asset Management’s Stake Value: $19,278,000
Dividend Yield as of June 17: 0.81%
Number of Hedge Fund Holders: 61

Costco Wholesale Corporation (NASDAQ:COST) is a Washington-based wholesale retailer that sells discounted goods through membership warehouses and also operates online. In May, the company reported a 15.5% year-over-year increase in its comparable-store sales due to the growth in its core domestic markets. Moreover, the company’s net sales for the month stood at $18.23 billion.

For the quarter ending March 2022, 61 hedge funds invested in Costco Wholesale Corporation (NASDAQ:COST), up from 57 in the previous quarter. The collective value of these stakes is over $5.4 billion. Fisher Asset Management owned the largest stake in the company in Q1, worth over $2.4 billion.

During Q1 2022, Motley Fool reduced its stake in Costco Wholesale Corporation (NASDAQ:COST) by 3%, owning shares worth over $19.2 million. The company accounted for 1.41% of Bryan Hinmon’s portfolio. On April 13, Costco Wholesale Corporation (NASDAQ:COST) announced a 13.9% increase in its quarterly dividend to $0.90 per share. This was the company’s 18^th year of consistent dividend growth. The stock’s yield was recorded at 0.81% on June 17.

In June, Costco Wholesale Corporation (NASDAQ:COST) surveyed over 900 warehouse club members about renewal intentions and shopping behaviors, and the positive results of the survey showed growth in the company’s success post-pandemic. In view of this, Jefferies raised its price target on the stock to $580 in June while keeping a Buy rating on the shares.

ClearBridge Investments mentioned Costco Wholesale Corporation (NASDAQ:COST) in its Q4 2021 investor letter. Here is what the firm has 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.”