US Politicians are Selling These 5 Stocks

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In this article, we discuss the 5 stocks that US Politicians are selling. If you want to read about some more stocks that US Politicians are selling, go directly to US Politicians are Selling These 10 Stocks.

5. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 61 

Costco Wholesale Corporation (NASDAQ:COST) owns and runs membership warehouses. According to the latest filings, US House member David McKinley disclosed a transaction related to Costco Wholesale Corporation (NASDAQ:COST) stock worth around $1,000-$15,000 on August 3. The politician revealed that his wife had sold the shares of the firm worth the above mentioned amount in late July. 

On August 4, Oppenheimer analyst Rupesh Parikh maintained an Outperform rating on Costco Wholesale Corporation (NASDAQ:COST) stock and raised the price target to $600 from $535, noting that the firm was continuing to gain meaningful share in the retail sector. 

At the end of the first quarter of 2022, 61 hedge funds in the database of Insider Monkey held stakes worth $5.41 billion in Costco Wholesale Corporation (NASDAQ:COST), up from 57 in the preceding quarter worth $5.40 billion. 

In its Q4 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Costco Wholesale Corporation (NASDAQ:COST) was one of them. Here is what the fund said:

“Portfolio gains were led by a diverse group of contributors. Also in consumer discretionary, Costco Wholesale Corporation (NASDAQ:COST), 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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