5 Jim Cramer Stocks to Watch in August

In this article, we discuss 5 Jim Cramer stocks to watch in August. If you want to see more of Jim Cramer’s latest stock picks, click 10 Jim Cramer Stocks to Watch in August. 

5. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 61

Mad Money’s Jim Cramer said in a Lightning Round on August 1 that Costco Wholesale Corporation (NASDAQ:COST) is the only retail stock he is bullish on. Cramer reiterated, “Don’t need anything [retail] but Costco”.

On July 27, Costco Wholesale Corporation (NASDAQ:COST) declared a $0.90 per share quarterly dividend, in line with previous. The dividend is payable on August 12, to shareholders of record as of July 29. 2022 marks the 19th consecutive annual dividend increase by Costco Wholesale Corporation (NASDAQ:COST). 

On July 14, Deutsche Bank analyst Krisztina Katai upgraded Costco Wholesale Corporation (NASDAQ:COST) to Buy from Hold with a price target of $579, up from $525. Costco Wholesale Corporation (NASDAQ:COST) is one of the most consistent players in the retail sector, and its incremental traffic gains and increasing membership renewal rates “serve as key differentiators in an increasingly uncertain backdrop,” the analyst told investors in a research note. The analyst sees “meaningful share gains ahead” for Costco Wholesale Corporation (NASDAQ:COST) as consumers largely gravitate towards warehouse clubs to cut down on grocery trips and buy in bulk for better prices.

Among the hedge funds tracked by Insider Monkey, Ken Fisher’s Fisher Asset Management featured as the leading stakeholder of Costco Wholesale Corporation (NASDAQ:COST), with 4.2 million shares worth $2.4 billion. Overall, 61 hedge funds were bullish on the stock at the end of March 2022, up from 57 funds in the earlier quarter. 

Here is what ClearBridge Investments Sustainability Leaders Strategy has to say about Costco Wholesale Corporation (NASDAQ:COST) in its Q4 2021 investor letter:

“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.”