Ninety One UK 13F: Cuts Costco Wholesale (COST) Stake by $91M
Institutional filing reveals Ninety One UK trimmed its Costco position by nearly a third during the period.
Reviewed by automated data checks against the source filing. How we make and check alerts
Ninety One UK sold 99,818 shares from its stake in Costco Wholesale Corporation ($COST), a 32.62% decrease, according to a 13F filing with the SEC dated October 15, 2026. It reported 206,157 shares worth $187.67 million at the end of the quarter.
Since the filing, $COST is up 1.1% to date (from the $978.01 close on Oct 15, 2026).
COST
Costco Wholesale Corporation
Key Points
- Ninety One UK cut its Costco Wholesale Corporation stake by 32.6%, reducing its holdings by 99818 shares to a total of 206157 shares.
- Ninety One UK held 206,157 $COST shares at quarter end, down 32.62% from the prior quarter.
- Costco recently traded around $990.81, sitting above both its 50-day and 200-day moving averages as it heads toward December earnings.
- Wall Street maintains a consensus buy rating on Costco with a mean price target of $1,066.06 across 36 analyst opinions.
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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
In a Form 13F filing with the SEC on October 15, 2026, institutional investor Ninety One UK disclosed that it reduced its position in Costco Wholesale Corporation (NASDAQ: COST). Because 13F reports look backward at previous quarters, this filing captures portfolio adjustments from the reported period and may not represent the firm's current trading activity today.
What Changed in Ninety One UK's Costco Position
During the period, Ninety One UK cut its holdings in Costco Wholesale Corporation by 99818 shares, marking a 32.6% decrease from its previous count of 305975 shares. The firm ended the period with 206157 shares of the discount store operator, with the remaining stake valued at $187672970.0. This move follows recent portfolio reductions by the firm in other equities.
Other Institutional Activity in Costco
Other major funds also adjusted their Costco positions ahead of the filing. Blackrock Inc. reduced its holdings by 744376 shares, ending with 34202834 shares worth about $33830364636.0. Vanguard Capital Management LLC grew its holdings by 129811 shares, ending with 28976605 shares worth about $28661049347.0. State Street Corporation added 232353 shares to finish with 18384951 shares valued at about $18184738614.0. Invesco Ltd. lifted its stake by 359814 shares to hold 13989137 shares worth about $13836795093.0. Geode Capital Management, LLC trimmed its position by 31978 shares, holding 10627472 shares valued at about $10511738674.0.
Costco Wholesale Corporation Stock Up 0.9%
Costco shares recently traded around $990.81 as of October 16, 2026. That level sits about 6.2% above its 50-day moving average of $932.99 and roughly 2.6% above its 200-day moving average of $965.50. The stock trades about 9.6% below its 52-week high of $1096.50 and 17.4% above its 52-week low of $844.06. The company carries a market capitalization of roughly $433.38 billion and a price-to-earnings ratio of 47.11.
Recent Earnings
Costco reported $303.15 billion in trailing-twelve-month revenue alongside an earnings per share of $20.76. Profitability metrics show a net margin of 3.0% and a return on equity of 28.4%. The company's next quarterly 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.
Dividend
Costco pays an annualized dividend yielding 0.6% with a payout ratio of 26.7%.
Insider Buying and Selling at Costco Wholesale Corporation
Company insiders recently completed several stock transactions. On September 29, 2026, officer Claudine Adamo sold 2200 shares at an average price of $915.93 for a total value of $2015046.0. On the same date, officer Caton Frates sold 800 shares at an average price of $915.93 for a total of $733328.0. Later, on October 13, 2026, executive vice president Wilcox William Richard sold 1100 shares at an average price of $958.21 for $1054025.50, while officer William Richard Wilcox also sold 1100 shares at an average price of $958.20 for $1054026.0.
Analysts Set New Price Targets
Wall Street firms updated their views on the stock ahead of the filing. On September 25, 2026, Freedom Broker maintained a Buy rating with a target of $1010.00. Deutsche Bank maintained a Buy rating on September 28, 2026, adjusting its target to $1079.00. 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 target of $1000.00 on October 9, 2026. Tigress Financial maintained a Buy rating on October 15, 2026, raising its target to $1250.00. Overall, the stock carries a consensus buy rating with a mean price target of $1066.06 across 36 analyst opinions.
About Costco
Costco Wholesale Corporation operates a massive chain of membership-only warehouse clubs across the United States and international markets. The company sells bulk groceries, electronics, apparel, and gasoline to millions of loyal members who pay an annual subscription fee. Because of its steady membership revenue and large physical footprint, Costco serves as a bellwether for consumer spending habits and retail health.
Bottom Line
Investors will watch how Costco performs in the upcoming holiday quarter leading into its December 10 earnings release. Institutional ownership updates in future filings will show whether Ninety One UK continues to trim its stake or stabilizes its holdings. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.
Related Filing Alerts
Source: Ninety One UK's 13F filing on $COST (Oct 15, 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: Ninety One UK 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts