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

Costco Wholesale Corporation (COST) : Cobiz Investment Management reduced its stake in Costco Wholesale Corporation by 2.06% during the most recent quarter end. The investment management company now holds a total of 39,459 shares of Costco Wholesale Corporation which is valued at $5,929,899 after selling 832 shares in Costco Wholesale Corporation , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Costco Wholesale Corporation makes up approximately 1.43% of Cobiz Investment Management’s portfolio.

Other Hedge Funds, Including , Thompson Rubinstein Investment Management Inc Or reduced its stake in COST by selling 2,492 shares or 4.24% in the most recent quarter. The Hedge Fund company now holds 56,215 shares of COST which is valued at $8,447,990. Costco Wholesale Corporation makes up approx 3.22% of Thompson Rubinstein Investment Management Inc Or’s portfolio.First Mercantile Trust Co reduced its stake in COST by selling 945 shares or 14.29% in the most recent quarter. The Hedge Fund company now holds 5,670 shares of COST which is valued at $850,443. Costco Wholesale Corporation makes up approx 0.11% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in COST in the latest quarter, The investment management firm added 174,670 additional shares and now holds a total of 232,720 shares of Costco Wholesale Corporation which is valued at $34,903,346. Costco Wholesale Corporation makes up approx 0.14% of Bnp Paribas Arbitrage Sa’s portfolio.Norman Fields Gottscho Capital Management boosted its stake in COST in the latest quarter, The investment management firm added 1,635 additional shares and now holds a total of 66,545 shares of Costco Wholesale Corporation which is valued at $9,980,419. Costco Wholesale Corporation makes up approx 6.65% of Norman Fields Gottscho Capital Management’s portfolio.

Costco Wholesale Corporation opened for trading at $149.67 and hit $151.14 on the upside on Tuesday, eventually ending the session at $151.01, with a gain of 0.49% or 0.73 points. The heightened volatility saw the trading volume jump to 25,96,769 shares. Company has a market cap of $66,152 M.

On the company’s financial health, Costco Wholesale Corporation reported $1.77 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Sep 29, 2016. Analyst had a consensus of $1.73. The company had revenue of $36560.00 million for the quarter, compared to analysts expectations of $36903.67 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 EPS.

Many Wall Street Analysts have commented on Costco Wholesale Corporation. Company shares were Reiterated by RBC Capital Mkts on Sep 30, 2016 to “Outperform”, Firm has raised the Price Target to $ 178 from a previous price target of $177 .

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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