Marketfield Asset Management Lowers stake in Costco Wholesale Corporation (COST)

Costco Wholesale Corporation (COST) : Marketfield Asset Management reduced its stake in Costco Wholesale Corporation by 21.49% during the most recent quarter end. The investment management company now holds a total of 208,676 shares of Costco Wholesale Corporation which is valued at $35,274,591 after selling 57,128 shares in Costco Wholesale Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Costco Wholesale Corporation makes up approximately 4.35% of Marketfield Asset Management’s portfolio.

Other Hedge Funds, Including , Millennium Management reduced its stake in COST by selling 120,380 shares or 56.22% in the most recent quarter. The Hedge Fund company now holds 93,739 shares of COST which is valued at $15,845,641. Costco Wholesale Corporation makes up approx 0.04% of Millennium Management’s portfolio.Wealthsource Partners reduced its stake in COST by selling 170 shares or 9.71% in the most recent quarter. The Hedge Fund company now holds 1,580 shares of COST which is valued at $265,250. Costco Wholesale Corporation makes up approx 0.10% of Wealthsource Partners’s portfolio.Ropes Wealth Advisors boosted its stake in COST in the latest quarter, The investment management firm added 498 additional shares and now holds a total of 1,845 shares of Costco Wholesale Corporation which is valued at $309,739. Costco Wholesale Corporation makes up approx 0.11% of Ropes Wealth Advisors’s portfolio.Mogy Joel R Investment Counsel Inc reduced its stake in COST by selling 15 shares or 0.01% in the most recent quarter. The Hedge Fund company now holds 105,932 shares of COST which is valued at $17,597,424. Costco Wholesale Corporation makes up approx 3.18% of Mogy Joel R Investment Counsel Inc’s portfolio.South Texas Money Management Ltd reduced its stake in COST by selling 9,176 shares or 4.2% in the most recent quarter. The Hedge Fund company now holds 209,534 shares of COST which is valued at $34,807,788. Costco Wholesale Corporation makes up approx 1.89% of South Texas Money Management Ltd’s portfolio.

Costco Wholesale Corporation closed down -5.88 points or -3.63% at $156.21 with 60,38,471 shares getting traded on Thursday. Post opening the session at $159, the shares hit an intraday low of $155.54 and an intraday high of $159 and the price fluctuated in this range throughout the day.Shares ended Thursday 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. Company shares were Upgraded by Goldman on Jun 1, 2016 to ” Buy”, Firm has raised the Price Target to $ 175 from a previous price target of $169 .Company shares were Reiterated by RBC Capital Mkts on May 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 173 from a previous price target of $169 .

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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