Eastern Bank Lowers stake in Costco Wholesale Corporation (COST)

Costco Wholesale Corporation (COST) : Eastern Bank reduced its stake in Costco Wholesale Corporation by 19.83% during the most recent quarter end. The investment management company now holds a total of 80,257 shares of Costco Wholesale Corporation which is valued at $12,050,589 after selling 19,856 shares in Costco Wholesale Corporation , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Costco Wholesale Corporation makes up approximately 0.98% of Eastern Bank’s portfolio.

Other Hedge Funds, Including , Prospera Financial Services Inc boosted its stake in COST in the latest quarter, The investment management firm added 362 additional shares and now holds a total of 5,425 shares of Costco Wholesale Corporation which is valued at $819,229. Costco Wholesale Corporation makes up approx 0.17% of Prospera Financial Services Inc’s portfolio.Salem Capital Management Inc reduced its stake in COST by selling 250 shares or 2.19% in the most recent quarter. The Hedge Fund company now holds 11,145 shares of COST which is valued at $1,674,871. Costco Wholesale Corporation makes up approx 0.92% of Salem Capital Management Inc’s portfolio.Indiana Trust Investment Management Co reduced its stake in COST by selling 369 shares or 3.13% in the most recent quarter. The Hedge Fund company now holds 11,421 shares of COST which is valued at $1,712,922. Costco Wholesale Corporation makes up approx 0.90% of Indiana Trust Investment Management Co’s portfolio.

Costco Wholesale Corporation closed down -0.07 points or -0.05% at $150.15 with 17,45,010 shares getting traded on Friday. Post opening the session at $150.18, the shares hit an intraday low of $149.28 and an intraday high of $151 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 $1.77 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.

Investors should note that on Oct 12, 2016, Costco Wholesale Corporation announced a cash dividend of $0.4500. The company’s management has announced Nov 2, 2016 as the ex-dividend date and fixed the record date on Nov 4, 2016. The payable date has been fixed on Nov 18, 2016.

Many Wall Street Analysts have commented on Costco Wholesale Corporation. Costco Wholesale Corporation was Initiated by Wells Fargo to “Market Perform” on Oct 18, 2016. 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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