Asset Management One 13F: Cuts COST Stake by $7.4M
Key Points
- Asset Management One's reported value for its Costco holdings is about $199.5 million, making up 1.43% of its total portfolio.
- Asset Management One held 219,191 $COST shares at quarter end, down 3.56% from the prior quarter.
- The firm ranks 16th among its 940 positions, indicating that Costco is a significant part of its investment strategy.
- Costco shares recently traded around $992.13, which is about equal to the price on the date of the filing.
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Asset Management One trimmed its position in Costco Wholesale Corporation (COST) by 8,090 shares, valued at approximately $7.36 million, in a filing on October 27, 2026. After this change, the fund holds 219,191 shares in Costco, worth about $199.5 million.
COST
Costco Wholesale Corporation
Asset Management One vs. the S&P 500
Hypothetical returns from Asset Management One's disclosed trades, not real profit or advice. How we model this.
Where Costco Fits in Asset Management One's Portfolio
Costco makes up 1.43% of Asset Management One's total reported portfolio, ranking 16th among its 940 holdings. This reduction in shares indicates a slight decrease in the fund's confidence in the stock, as it reflects a 3.6% decrease from its previous position.
Other Institutional Activity in Costco
Perigon Wealth Management reduced its stake in Costco by 3,187 shares, leaving it with 19,070 shares valued at about $17.36 million. Verdence Capital Advisors increased its holdings by 3,206 shares, bringing its total to 17,221 shares worth approximately $15.68 million. Ag2R la Mondiale Gestion D'Actifs also grew its position by 3,408 shares, now holding 22,931 shares valued at about $20.88 million.
Costco Wholesale Corporation Stock Down 1.1%
Costco shares traded around $992.13 recently, which is about equal to the closing price on October 27, 2026. The stock is currently above its 50-day moving average by 5.6%, but it is about 9.5% below its 52-week high of $1,096.50.
Recent Earnings
In its last earnings report, Costco reported trailing twelve-month revenue of approximately $303.15 billion, with an earnings per share (EPS) of $20.76. The next earnings date is set for 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
Costco pays an annual dividend of $5.88 per share, which corresponds to a yield of about 0.59%. The dividend payout ratio is 26.7%.
Insider Buying and Selling at Costco Wholesale Corporation
Several insiders have sold shares recently, including Director Kenneth D. Denman, who sold 885 shares at an average price of $957.45 on June 23, 2026, totaling about $847,345. Other officers also sold shares in September and October, with notable transactions totaling over $3 million.
Analysts Set New Price Targets
On September 28, 2026, Deutsche Bank maintained a "Buy" rating on Costco with a price target of $1,079, while Argus Research reiterated its "Buy" rating with the same target. RBC Capital and Tigress Financial also maintained their ratings, with targets of $1,000 and $1,250, respectively.
About Costco Wholesale Corporation
Costco Wholesale Corporation operates membership warehouses across various countries, including the U.S., Canada, and several others. The company is known for offering a wide range of products at competitive prices, contributing to its strong revenue growth.
Bottom Line
Investors should watch for Costco's upcoming earnings report on December 10, 2026, and any further changes in institutional holdings as funds adjust their positions in the retail giant. Asset Management One's recent filing reflects ongoing adjustments in their investment strategy.
Related Filing Alerts
Source: Asset Management One's 13F filing on $COST (Oct 27, 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