Here’s Why You Should Remain Confident with Your Costco (COST) Shares

ClearBridge Investments, an investment management firm, published its “Sustainability Leaders Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Sustainability Leaders Strategy outperformed its Russell 3000 Index benchmark during the fourth quarter. On an absolute basis, the Strategy had gains in nine of 10 sectors in which it was invested (out of 11 sectors total). The main contributors were the IT, consumer discretionary, and health care sectors. The communication services sector was the sole detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments Sustainability Leaders Strategy, in its Q4 2021 investor letter, mentioned Costco Wholesale Corporation (NASDAQ:COST) and discussed its stance on the firm. Founded in 1983, Costco Wholesale Corporation (NASDAQ:COST) is a Issaquah, Washington-based big-box store company with a $255.6 billion market capitalization, and is currently spearheaded by its CEO, W. Craig Jelinek. Costco Wholesale Corporation (NASDAQ:COST) delivered a 1.31% return since the beginning of the year, while its 12-month returns are up by 59.71%. The stock closed at $577.09 per share on April 04, 2022.

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.”

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Our calculations show that Costco Wholesale Corporation (NASDAQ:COST) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Costco Wholesale Corporation (NASDAQ:COST) was in 57 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 55 funds in the previous quarter. Costco Wholesale Corporation (NASDAQ:COST) delivered a 1.93% return in the past 3 months.

In January 2022, we also shared another hedge fund’s views on Costco Wholesale Corporation (NASDAQ:COST) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.