Peak Asset Management adds Costco Wholesale Corporation (COST) to its portfolio

Costco Wholesale Corporation (COST) : Peak Asset Management added new position in Costco Wholesale Corporation during the most recent quarter end. The investment management firm now holds 1,315 shares of Costco Wholesale Corporation which is valued at $218,448 , the company said in a statement filed on Aug 2, 2016 with the SEC.Costco Wholesale Corporation makes up approximately 0.04% of Peak Asset Management’s portfolio.

Other Hedge Funds, Including , 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.Quadrant Capital Group boosted its stake in COST in the latest quarter, The investment management firm added 42 additional shares and now holds a total of 545 shares of Costco Wholesale Corporation which is valued at $91,135. Costco Wholesale Corporation makes up approx 0.06% of Quadrant Capital Group’s portfolio.Brookstone Capital Management boosted its stake in COST in the latest quarter, The investment management firm added 366 additional shares and now holds a total of 3,102 shares of Costco Wholesale Corporation which is valued at $521,260. Costco Wholesale Corporation makes up approx 0.07% of Brookstone Capital Management’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in COST in the latest quarter, The investment management firm added 6,318 additional shares and now holds a total of 113,393 shares of Costco Wholesale Corporation which is valued at $18,759,738. Costco Wholesale Corporation makes up approx 0.39% of Exxonmobil Investment Management Inc Tx’s portfolio.

Costco Wholesale Corporation closed down -0.3 points or -0.18% at $167.4 with 12,94,445 shares getting traded on Monday. Post opening the session at $167.25, the shares hit an intraday low of $166.47 and an intraday high of $167.55 and the price fluctuated in this range throughout the day.Shares ended Monday 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.

Investors should note that on Jul 25, 2016, Costco Wholesale Corporation announced a cash dividend of $0.4500. The company’s management has announced Aug 10, 2016 as the ex-dividend date and fixed the record date on Aug 12, 2016. The payable date has been fixed on Aug 26, 2016.

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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