5 NASDAQ-100 Stocks that Pay Dividends

3. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 57

Dividend Yield as of April 25: 0.64%

Costco Wholesale Corporation (NASDAQ:COST) is an American multinational big-box retailer. Costco Wholesale Corporation (NASDAQ:COST) began paying quarterly dividends in 2004, and as of April 25, the company’s dividend yield stands at 0.64%. The company reported on April 6 that the total comparable sales grew 17.2% in March, with net sales up 18.7% year-over-year at $21.61 billion.

On April 13, Costco Wholesale Corporation (NASDAQ:COST) declared a $0.90 per share quarterly dividend, a 13.9% increase from its prior dividend of $0.79. The dividend is payable on May 13, to shareholders of the company as of April 29. 

Tigress Financial analyst Ivan Feinseth on April 14 kept a Buy rating on Costco Wholesale Corporation (NASDAQ:COST) and raised the firm’s price target on the stock to $678 from $520. According to the analyst, Costco Wholesale Corporation (NASDAQ:COST) continues to experience strong consumer demand and membership growth. The company is also positioned to benefit in a post-pandemic market as consumer spending transitions from staples to pricey purchases, resulting in further share price gains, the analyst added. 

According to Insider Monkey’s database of elite hedge funds, 57 funds reported owning stakes worth $5.40 billion in Costco Wholesale Corporation (NASDAQ:COST) at the end of Q4 2021. Arrowstreet Capital is a notable shareholder of the company, with 1.05 million shares valued at $597.45 million.

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.”