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Costco Wholesale Corporation (NASDAQ:COST)


Billionaire Jeffrey Talpins’ hedge fund added Costco Wholesale Corporation (NASDAQ:COST), the American multinational big box retailer, to its Q4 portfolio by purchasing 127,599 shares worth $72.4 million, representing 4.66% of the total 13F holdings. On May 4, Costco Wholesale Corporation (NASDAQ:COST) reported April comparable sales growth of 12.6%, with net sales increasing 13.9% year-over-year at $17.33 billion.


Costco Wholesale Corporation (NASDAQ:COST) on April 13 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 record on April 29.


On May 5, Stifel analyst Mark Astrachan raised the price target on Costco Wholesale Corporation (NASDAQ:COST) to $565 from $555 and reiterated a Buy rating on the shares after the company reported total and U.S. primary April comp growth that came in above consensus. The analyst continues to view the company as “a best-in-class retailer and a core holding for large-cap consumer investors”.


According to the fourth quarter database of Insider Monkey, Costco Wholesale Corporation (NASDAQ:COST) was part of the public stock portfolios of 57 hedge funds, compared to 55 funds in the preceding quarter. Ken Fisher’s Fisher Asset Management is the largest shareholder of the company, with 4.2 million shares worth $2.4 billion.


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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