Maple Capital Management buys $7.2 Million stake in Costco Wholesale Corporation (COST)

Costco Wholesale Corporation (COST) : Maple Capital Management scooped up 3,620 additional shares in Costco Wholesale Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 50,152 shares of Costco Wholesale Corporation which is valued at $7.2 Million.Costco Wholesale Corporation makes up approximately 2.70% of Maple Capital Management’s portfolio.

Other Hedge Funds, Including , Paradigm Asset Management Co boosted its stake in COST in the latest quarter, The investment management firm added 14,700 additional shares and now holds a total of 27,200 shares of Costco Wholesale Corporation which is valued at $3.9 Million. Costco Wholesale Corporation makes up approx 0.74% of Paradigm Asset Management Co’s portfolio.Profund Advisors reduced its stake in COST by selling 3,897 shares or 9.55% in the most recent quarter. The Hedge Fund company now holds 36,928 shares of COST which is valued at $5.4 Million. Costco Wholesale Corporation makes up approx 0.28% of Profund Advisors’s portfolio.

Costco Wholesale Corporation opened for trading at $142.62 and hit $145.68 on the upside on Wednesday, eventually ending the session at $144.54, with a gain of 1.38% or 1.97 points. The heightened volatility saw the trading volume jump to 41,66,693 shares. Company has a market cap of $63,458 M.

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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