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Costco's stock rises 59.3% as institutional investors increase stakes despite slight earnings miss.
Costco Wholesale Co. saw institutional investors increase their stakes, with several firms like Wedbush Securities and Resona Asset Management purchasing more shares.
Despite slightly missing earnings expectations, Costco reported strong revenue and maintains a "Moderate Buy" rating with a price target of $1,029.
The company operates membership warehouses internationally, offering a wide range of products.
Shares rose 59.3% in the last quarter, with institutional investors owning 68.48% of the stock.
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Las acciones de Costco aumentan 59,3% a medida que los inversores institucionales aumentan las apuestas a pesar de una ligera pérdida de ganancias.