Billionaire Israel Englander’s Millennium Management Is Betting on These Stocks to Change Its Fortune in 2017

Costco Wholesale Corporation (NASDAQ:COST)

– Shares Held By Millennium Management (as of December 31): 1.24 Million

– Value of The Holding (as of December 31): $199.94 million

Millennium Management more than doubled its stake in Costco Wholesale Corporation (NASDAQ:COST) during the fourth quarter. Shares of the membership warehouse operator have more than doubled in the last five years and are up over 350% since July 2009. This long-term rally notwithstanding, most analysts who cover the retail sector continue to remain bullish on Costco Wholesale Corporation (NASDAQ:COST) despite being neutral or negative on the sector overall. Earlier this month, analysts at Susquehanna Bancshares Inc initiated coverage on the stock with a ‘Positive’ rating and a $195 price target, which suggests a further upside of 11% from its current trading price.

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Lowe’s Companies, Inc. (NYSE:LOW)

– Shares Held By Millennium Management (as of December 31): 2.85 Million

– Value of The Holding (as of December 31): $203.21 million

In Lowe’s Companies, Inc. (NYSE:LOW), Millennium Management boosted its holding by 940% during the fourth quarter. Unlike Costco, Lowe’s Companies, Inc. (NYSE:LOW)’s stock has been in a correction mode after hitting its lifetime high in July last year. However, it is currently trading up by 7.9% year-to-date. Last month the company announced that it had promoted Marshall Croom, who will be replacing Robert Hull Jr. as the new CFO effective March 3. On January 27, Lowe’s announced a new $5 billion share repurchase program without an expiration date. As of October 28, 2016, the company still had $627 million authorization left in its ongoing share repurchase program.

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