Howland Capital Management 13F: Adds $1.5M to COST Stake
Key Points
- Howland Capital Management grew its Costco Wholesale Corporation position by 6.1% during the quarter, bringing its total holding to 28,588 shares valued at about $26.02 million according to an October 22, 2026 SEC filing.
- Costco recently traded near $1,018.44 per share, holding above both its 50-day and 200-day moving averages as investors look toward the next earnings release on December 10, 2026.
- Wall Street maintains a general buy rating on the discount retail giant, backed by a mean analyst price target of $1,067.59 across dozens of opinions.
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Howland Capital Management grew its position in Costco Wholesale Corporation (NasdaqGS: COST) by adding 1,650 shares during the quarter, according to a Form 13F filing with the SEC on October 22, 2026. The purchase marked a 6.1% increase, lifting the firm's total holdings to 28,588 shares worth about $26.02 million.
COST
Costco Wholesale Corporation
What Changed in Howland Capital Management's Costco Position
The fund expanded its investment in the warehouse club operator from 26,938 shares up to 28,588 shares. That adjustment added 1,650 shares to its portfolio, bringing the total reported value of the stake to $26,024,800.
Other Institutional Activity in Costco Wholesale Corporation
Other institutional managers made sizeable adjustments to their Costco holdings around the same period. PensionDanmark Pensionsforsikringsaktieselskab grew its holdings by 3,779 shares, ending with 92,731 shares worth about $84.42 million. On the other hand, Ninety One UK reduced its stake by 99,818 shares, leaving it with 206,157 shares valued at roughly $187.67 million. Annex Advisory Services cut its position by 32,629 shares to finish with 6,071 shares worth about $5.53 million. Livforsakringsbolaget Skandia, Omsesidigt trimmed 3,250 shares to hold 1,621 shares valued at about $1.48 million, and Auto-Owners Insurance closed out its position entirely by selling off all 405 of its shares.
Costco Wholesale Corporation Stock Up 2.4%
Costco recently traded around $1,018.44 as of October 23, 2026, sitting right around its closing price of $1,018.21 on the filing date. The stock trades above its 50-day moving average of $936.66 and its 200-day moving average of $968.10. Shares sit below their 52-week high of $1,096.50 but remain well above their 52-week low of $844.06.
Recent Earnings
Costco operates membership warehouses across the globe.
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 company distributes an annual dividend.
Insider Buying and Selling at Costco Wholesale Corporation
Insiders completed several transactions leading up to the filing.
Analysts Set New Price Targets
Wall Street firms actively updated their targets on the stock.
About Costco Wholesale Corporation
Costco Wholesale Corporation operates a massive chain of membership-only warehouse stores that offer low prices on bulk goods, food, and household items. Its business model relies on membership fees to generate stable revenue while keeping profit margins tight on retail sales. This retail giant draws steady interest from both institutional funds and retail shoppers alike.
Bottom Line
Investors will watch for the company's next financial results scheduled for December 10, 2026. Further institutional filings will reveal how other large managers adjusted their positions in the warehouse retailer.
Related Filing Alerts
Source: Howland Capital Management's 13F filing on $COST (Oct 22, 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