Sterling Global Strategies buys $537,429,440 stake in Costco Wholesale Corporation (COST)

Costco Wholesale Corporation (COST) : Sterling Global Strategies scooped up 3,512,451 additional shares in Costco Wholesale Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 3,535,720 shares of Costco Wholesale Corporation which is valued at $537,429,440.Costco Wholesale Corporation makes up approximately 18.00% of Sterling Global Strategies’s portfolio.

Other Hedge Funds, Including , Cambridge Trust Co boosted its stake in COST in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 3,067 shares of Costco Wholesale Corporation which is valued at $440,237. Costco Wholesale Corporation makes up approx 0.03% of Cambridge Trust Co’s portfolio.Transamerica Financial Advisors boosted its stake in COST in the latest quarter, The investment management firm added 3,442 additional shares and now holds a total of 38,962 shares of Costco Wholesale Corporation which is valued at $5,592,605. Costco Wholesale Corporation makes up approx 0.62% of Transamerica Financial Advisors’s portfolio.1st Source Bank reduced its stake in COST by selling 212 shares or 6.14% in the most recent quarter. The Hedge Fund company now holds 3,240 shares of COST which is valued at $485,222. Costco Wholesale Corporation makes up approx 0.05% of 1st Source Bank’s portfolio.Eads Heald Investment Counsel reduced its stake in COST by selling 166 shares or 1.26% in the most recent quarter. The Hedge Fund company now holds 12,996 shares of COST which is valued at $1,962,136. Costco Wholesale Corporation makes up approx 1.38% of Eads Heald Investment Counsel’s portfolio.

Costco Wholesale Corporation closed down -0.84 points or -0.56% at $150.36 with 20,20,489 shares getting traded on Monday. Post opening the session at $150.84, the shares hit an intraday low of $149.52 and an intraday high of $151.2 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 $1.77 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. Costco Wholesale Corporation was Upgraded by Northcoast to ” Buy” on Oct 19, 2016. 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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