Renaissance Investment Group Lowers stake in Costco Wholesale Corporation (COST)

Costco Wholesale Corporation (COST) : Renaissance Investment Group reduced its stake in Costco Wholesale Corporation by 0.45% during the most recent quarter end. The investment management company now holds a total of 29,557 shares of Costco Wholesale Corporation which is valued at $4.7 Million after selling 135 shares in Costco Wholesale Corporation according to a report filed by the company on Apr 1, 2016 with the SEC.Costco Wholesale Corporation makes up approximately 2.34% of Renaissance Investment Group’s portfolio.

On the company’s financial health, Costco Wholesale Corporation reported $1.09 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Dec 8, 2015. Analyst had a consensus of $1.17. The company had revenue of $27200.00 million for the quarter, compared to analysts expectations of $27729.79 million. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS.

Many Wall Street Analysts have commented on Costco Wholesale Corporation. Costco Wholesale Corporation was Resumed by Barclays to “Equal Weight” on Mar 31, 2016. Shares were Reiterated by Telsey Advisory Group on Mar 4, 2016 to “Outperform” and Lowered the Price Target to $ 170 from a previous price target of $175 .

Costco Wholesale Corporation closed down -2.6 points or -1.71% at $149.05 with 22,78,997 shares getting traded on Monday. Post opening the session at $151.34, the shares hit an intraday low of $148.965 and an intraday high of $151.94 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico Canada United Kingdom (U.K.) Mexico Japan Australia Spain and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144000 square feet. The Company’s warehouses generally operate on a seven-day 69-hour week. The Company’s product categories include Food Sundries Hardlines Fresh Food Softlines Ancillary and Other. The Company’s online business provides products which include services such as photo processing pharmacy travel business delivery and membership services.

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