Ami Asset Management 13F: Cuts COST Stake by $625K
Key Points
- Ami Asset Management trimmed its Costco Wholesale Corporation stake by 687 shares, leaving a total of 21,074 shares valued at $19,184,123 in a filing on October 20, 2026.
- Costco Wholesale Corporation generated $303.15 billion in trailing twelve month revenue alongside an earnings per share figure of $20.76.
- Wall Street analysts currently hold a buy consensus on the stock with a mean price target of $1,067.59 ahead of the next earnings report on December 10, 2026.
Since the filing, $COST is up 0.4% to date (from the $994.61 close on Oct 20, 2026).
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Ami Asset Management trimmed its stake in Costco Wholesale Corporation (NASDAQ:COST) by 687 shares, lowering its holdings by 3.2% during the period. According to a Form 13F filing with the U.S. Securities and Exchange Commission on October 20, 2026, the firm ended the quarter with 21,074 shares valued at $19,184,123. The position previously stood at 21,761 shares.
COST
Costco Wholesale Corporation
What Changed in Ami Asset Management's Costco Position
The reduction brought the firm's total share count down from 21,761 to 21,074. The reported value of the remaining holding sits at roughly $19.2 million. The adjustment reflects a routine portfolio rebalancing by the firm during the reporting period.
Other Institutional Activity in Costco Wholesale Corporation
Other large investors also adjusted their positions in the warehouse retailer during the same window. Curated Wealth Partners slashed its holdings by 425,631 shares, ending with 1,489 shares worth about $1,355,496. PensionDanmark Pensionsforsikringsaktieselskab grew its holdings by 3,779 shares, ending with 92,731 shares worth about $84,416,739. Auto-Owners Insurance dropped its entire stake by selling 405 shares, leaving it with 0 shares valued at $0. Annex Advisory Services cut its position by 32,629 shares, ending with 6,071 shares worth about $5,526,403. Ninety One UK reduced its stake by 99,818 shares, ending with 206,157 shares worth about $187,672,970.
Costco Wholesale Corporation Stock Up 0.9%
The stock recently traded around $998.18 as of October 22, 2026, sitting up about 0.4% from its close of $994.61 on the filing date. Shares trade well above their 50-day moving average of $936.66 and their 200-day moving average of $968.10, while remaining below the 52-week high of $1,096.50.
Recent Earnings
Costco posted trailing twelve month revenue of $303,154,003,968 alongside basic earnings per share of $20.76. The company reported a net profit margin of 3.0% and a return on equity of 28.4%. The warehouse operator operates with a price-to-earnings ratio of 48.09 and a forward price-to-earnings ratio of 39.89. The next quarterly earnings report is scheduled for release on December 10, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
3 analysts raised price targets.
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EPS & revenue
EPS missed estimates by 1.9%. Revenue missed estimates by 2.3%.
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Profit surprise
EBITDA missed by 5 percent. Operating income missed by 5 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
3 target raises.
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Earnings quality
Positive free cash flow.
Earnings Call Summary
Costco delivered 9.1 percent revenue growth to 69.6 billion dollars in the second quarter, beating earnings per share at 4.93 dollars versus 4.92 dollars expected, but missing revenue versus consensus of 71.2 billion dollars. Same-store sales grew 7.4 percent excluding gas and currency effects. Comparable sales strength came from all categories, with meat and bakery leading fresh food at low double digits. Digital sales grew 22.6 percent, with personalized recommendations driving 470 million dollars in e-commerce sales. However, paid membership growth decelerated to 4.8 percent year over year, down from typical 5 percent levels, partly due to slower new warehouse openings in new markets and higher penetration of online signup members who renew at lower rates. Management emphasized continued price reductions on items like butter, coffee, and eggs despite tariff uncertainty, and highlighted technology investments in checkout efficiency and personalized experiences.
Guidance Management did not provide specific forward guidance for future quarters. They indicated expecting about 28 net new warehouse openings in fiscal 2026 and are targeting 30 plus openings per year going forward. Capital expenditures are estimated at approximately 6.5 billion dollars for the full year.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Dividend
The warehouse club pays an annual dividend rate of $5.88 per share, giving it a dividend yield of 0.59% based on recent trading levels. The payout ratio sits at 26.7%, indicating that roughly a quarter of corporate earnings go toward shareholder distributions.
Insider Buying and Selling at Costco Wholesale Corporation
Company insiders executed several transactions prior to the filing date. Director Kenneth D. Denman sold 885 shares on June 23, 2026, at $957.45 per share for a total of $847,345. Officer Caton Frates sold 800 shares on September 29, 2026, at $915.93 per share totaling $733,328. Officer Claudine Adamo sold 2,200 shares on the same day at $915.93 per share for a total value of $2,015,046. Executive Vice President William Richard Wilcox disposed of 1,100 shares on October 13, 2026, at $958.21 per share totaling $1,054,025.50.
Analysts Set New Price Targets
Wall Street research firms maintain a generally positive outlook on the membership warehouse operator. Freedom Broker maintained a buy rating while adjusting its price target to $1010.00 from $1030.00 on September 25, 2026. Deutsche Bank kept a buy rating and moved its target from $1091.00 to $1079.00 on September 28, 2026. Argus Research reiterated a buy rating with a target of $1230.00 on September 28, 2026. RBC Capital reiterated a sector perform rating with a $1000.00 target on October 9, 2026. Tigress Financial maintained a buy rating while lifting its target to $1250.00 from $1065.00 on October 15, 2026. The stock carries a consensus buy recommendation and a mean price target of $1,067.59 across 37 analyst opinions.
About Costco Wholesale Corporation
Costco Wholesale Corporation operates a massive chain of membership-only warehouse clubs offering bulk groceries, electronics, and household goods to consumers across the United States, Canada, Asia, and Europe. The company generates steady revenue through both product sales and annual membership fees, making it a defensive anchor for institutional portfolios.
Bottom Line
Investors will look toward the upcoming earnings release on December 10, 2026, for fresh details on membership renewal rates and warehouse traffic. Future SEC filings will show whether other asset managers follow Ami Asset Management in trimming exposure to the retail giant.
Related Filing Alerts
Source: Ami Asset Management's 13F filing on $COST (Oct 20, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts