Harbour Investment Management Lowers stake in Costco Wholesale Corporation (COST)

Costco Wholesale Corporation (COST) : Harbour Investment Management reduced its stake in Costco Wholesale Corporation by 1.09% during the most recent quarter end. The investment management company now holds a total of 26,765 shares of Costco Wholesale Corporation which is valued at $3,867,543 after selling 295 shares in Costco Wholesale Corporation , the firm said in a disclosure report filed with the SEC on May 9, 2016.Costco Wholesale Corporation makes up approximately 3.00% of Harbour Investment Management’s portfolio.

Other Hedge Funds, Including , Formulafolio Investments added COST to its portfolio by purchasing 3,580 company shares during the most recent quarter which is valued at $517,310. Costco Wholesale Corporation makes up approx 0.09% of Formulafolio Investments’s portfolio.Addenda Capital boosted its stake in COST in the latest quarter, The investment management firm added 120 additional shares and now holds a total of 40,597 shares of Costco Wholesale Corporation which is valued at $5,945,025. Costco Wholesale Corporation makes up approx 0.52% of Addenda Capital’s portfolio.Tci Wealth Advisors boosted its stake in COST in the latest quarter, The investment management firm added 527 additional shares and now holds a total of 6,516 shares of Costco Wholesale Corporation which is valued at $965,215. Costco Wholesale Corporation makes up approx 0.53% of Tci Wealth Advisors’s portfolio.Rdl Financial Inc boosted its stake in COST in the latest quarter, The investment management firm added 574 additional shares and now holds a total of 2,998 shares of Costco Wholesale Corporation which is valued at $444,094. Costco Wholesale Corporation makes up approx 0.33% of Rdl Financial Inc’s portfolio.

Costco Wholesale Corporation closed down -2.22 points or -1.51% at $144.5 with 29,93,616 shares getting traded on Friday. Post opening the session at $146.33, the shares hit an intraday low of $144.3 and an intraday high of $146.72 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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. RBC Capital Mkts Initiated Costco Wholesale Corporation on May 3, 2016 to “Outperform”, Price Target of the shares are set at $169.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 (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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