Jim Cramer Was Right About These 5 Stocks

This article presents an overview of Jim Cramer Was Right About These 5 Stocks. For a detailed overview of such stocks, read our article, Jim Cramer Was Right About These 10 Stocks.

5. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Investors: 57

Cramer’s Recommendation: Buy

YTD Performance in 2024: +14%

On Costco, Jim Cramer in December 2023 had told investors to “hold on to the stock for dear life.” So far in 2024, Cramer has been proven right, since Costco Wholesale Corporation (NASDAQ:COST) shares are up 13% year to date through February 26.

As of the end of the fourth quarter of 2023, 57 hedge funds tracked by Insider Monkey had stakes in Costco Wholesale Corporation (NASDAQ:COST). The biggest hedge fund stakeholder of Costco Wholesale Corporation (NASDAQ:COST) during this period was Ken Fisher who had a $1.8 billion stake in Costco Wholesale Corporation (NASDAQ:COST) via his hedge fund Fisher Asset Management.

Madison Sustainable Equity Fund stated the following regarding Costco Wholesale Corporation (NASDAQ:COST) in its fourth quarter 2023 investor letter:

“Costco Wholesale Corporation (NASDAQ:COST) reported solid holiday results and announced a special dividend of $15 per share. Earnings were better than expected driven by better gross margin. Same store sales were 3.9% with solid traffic. Costco also noted better discretionary trends and solid seasonal sales.”