Annex Advisory Services 13F: Cuts COST Stake by $30M
Annex Advisory Services has cut its position in Costco by over 84%, now holding 6,071 shares valued at about $5.5 million.
Reviewed by automated data checks against the source filing. How we make and check alerts
Annex Advisory Services sold 32,629 shares from its stake in Costco Wholesale Corporation ($COST), an 84.31% decrease, according to a 13F filing with the SEC dated October 16, 2026. It reported 6,071 shares worth $5.53 million at the end of the quarter.
Find the original: Annex Advisory Services 13F filings on SEC EDGAR
COST
Costco Wholesale Corporation
Key Points
- Annex Advisory Services reduced its stake in Costco Wholesale Corporation by 32,629 shares, bringing its total to 6,071 shares valued at approximately $5.5 million.
- Costco shares recently traded around $990.81, which is 6.2% above its 50-day moving average but still 9.6% below its 52-week high.
- Analysts have a consensus 'buy' rating for Costco, with a mean price target of about $1,066.06, indicating potential upside from the current price.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Costco Wholesale Corporation alert may contain errors. Disclosures
Annex Advisory Services disclosed a significant reduction in its position in Costco Wholesale Corporation (COST) in a filing on October 16, 2026. The firm cut its stake by 32,629 shares, now holding 6,071 shares valued at approximately $5.5 million. This move represents an 84.3% decrease in their holdings.
What Changed in Annex Advisory Services' Costco Position
Annex Advisory Services has reduced its position in Costco by 32,629 shares, resulting in a total of 6,071 shares. This sharp decrease reflects a significant shift in their investment strategy.
Other Institutional Activity in Costco
Several other funds have also adjusted their stakes in Costco. Blackrock Inc. reduced its holdings by 744,376 shares, now owning 34,202,834 shares valued at about $33.8 billion. Meanwhile, Vanguard Capital Management LLC slightly increased its stake by 129,811 shares, ending with 28,976,605 shares worth approximately $28.7 billion. State Street Corporation added 232,353 shares, bringing its total to 18,384,951 shares valued at about $18.2 billion. Invesco Ltd. also increased its holdings by 359,814 shares, now totaling 13,989,137 shares worth around $13.8 billion.
Costco Wholesale Corporation Stock Up 0.9%
Costco shares recently traded around $990.81, which is above its 50-day moving average of $932.99 but below its 52-week high of $1,096.50. The current price is also about 7.1% beneath the mean target price set by analysts.
Recent Earnings
For the trailing twelve months, Costco reported total revenue of approximately $303.2 billion, with a net income margin of 3.0%. The company has shown robust revenue growth of 11.1% year-over-year. Costco's next earnings report is scheduled 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.
Insider Buying and Selling at Costco Wholesale Corporation
Insider transactions show some notable sales at Costco. On September 29, Officer Claudine Adamo sold 2,200 shares at an average price of $915.93, totaling about $2.0 million. Officer Caton Frates also sold 800 shares for approximately $733,328. More recently, Executive Vice President Wilcox William Richard sold 1,100 shares on October 13, 2026, for about $1.1 million at an average price of $958.20.
Analysts Set New Price Targets
On October 15, 2026, Tigress Financial maintained a 'buy' rating for Costco, raising its price target to $1,250 from $1,065. Earlier, Freedom Broker and Deutsche Bank both maintained their 'buy' ratings, with targets of $1,010 and $1,079 respectively, indicating confidence in Costco's long-term performance.
About Costco Wholesale Corporation
Costco operates membership warehouses that offer a wide range of goods at discounted prices. It serves customers in multiple countries, including the U.S., Canada, and several others across Europe and Asia. This position change by Annex Advisory Services reflects a broad trend of institutional investors reassessing their holdings in response to market conditions.
Bottom Line
Investors should watch for Costco's upcoming earnings report on December 10, 2026, as it may provide insights into the company's performance amid changing market dynamics. This filing reflects holdings as of the reporting period and may not represent the current positions of Annex Advisory Services.
Related Filing Alerts
Source: Annex Advisory Services's 13F filing on $COST (Oct 16, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Annex Advisory Services 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts