Capital Investment Counsel Inc Lowers stake in Costco Wholesale Corporation (COST)

Costco Wholesale Corporation (COST) : Capital Investment Counsel Inc reduced its stake in Costco Wholesale Corporation by 3.22% during the most recent quarter end. The investment management company now holds a total of 87,650 shares of Costco Wholesale Corporation which is valued at $14,816,356 after selling 2,915 shares in Costco Wholesale Corporation , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Costco Wholesale Corporation makes up approximately 7.36% of Capital Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , National Pension Service boosted its stake in COST in the latest quarter, The investment management firm added 26,882 additional shares and now holds a total of 247,487 shares of Costco Wholesale Corporation which is valued at $41,835,202. Costco Wholesale Corporation makes up approx 0.36% of National Pension Service’s portfolio.New York State Common Retirement Fund boosted its stake in COST in the latest quarter, The investment management firm added 57,400 additional shares and now holds a total of 1,303,300 shares of Costco Wholesale Corporation which is valued at $220,309,832. Costco Wholesale Corporation makes up approx 0.31% of New York State Common Retirement Fund’s portfolio.Buckingham Asset Management boosted its stake in COST in the latest quarter, The investment management firm added 19 additional shares and now holds a total of 2,240 shares of Costco Wholesale Corporation which is valued at $372,109. Costco Wholesale Corporation makes up approx 0.12% of Buckingham Asset Management’s portfolio. Lmr Partners Llp sold out all of its stake in COST during the most recent quarter. The investment firm sold 7,697 shares of COST which is valued $1,287,092.Somerset Trust Co boosted its stake in COST in the latest quarter, The investment management firm added 2,788 additional shares and now holds a total of 15,000 shares of Costco Wholesale Corporation which is valued at $2,501,700. Costco Wholesale Corporation makes up approx 1.50% of Somerset Trust Co’s portfolio.

Costco Wholesale Corporation closed down -0.58 points or -0.35% at $167.36 with 10,04,399 shares getting traded on Tuesday. Post opening the session at $168.09, the shares hit an intraday low of $167.31 and an intraday high of $168.45 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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