Grocery Outlet Holding Corp. $GO Shares Acquired by Rhumbline Advisers

Rhumbline Advisers lifted its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 30.2% in the second quarter, Holdings Channel reports. The firm owned 289,065 shares of the company’s stock after buying an additional 66,971 shares during the period. Rhumbline Advisers’ holdings in Grocery Outlet were worth $3,590,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Rip Road Capital Partners LP increased its stake in Grocery Outlet by 33.9% during the 1st quarter. Rip Road Capital Partners LP now owns 707,900 shares of the company’s stock worth $9,896,000 after buying an additional 179,300 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Grocery Outlet during the second quarter worth approximately $3,835,000. Inspire Investing LLC acquired a new position in Grocery Outlet in the 1st quarter valued at $345,000. TD Asset Management Inc lifted its holdings in Grocery Outlet by 113.3% in the 2nd quarter. TD Asset Management Inc now owns 168,452 shares of the company’s stock valued at $2,092,000 after purchasing an additional 89,478 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Grocery Outlet by 19.0% during the 1st quarter. Invesco Ltd. now owns 992,675 shares of the company’s stock worth $13,878,000 after purchasing an additional 158,302 shares during the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. UBS Group reduced their target price on shares of Grocery Outlet from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. TD Cowen cut their price objective on shares of Grocery Outlet from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. Morgan Stanley lowered their target price on Grocery Outlet from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grocery Outlet in a report on Wednesday, October 8th. Finally, Bank of America reduced their price objective on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.55.

Insider Activity at Grocery Outlet

In other news, EVP Steven K. Wilson sold 25,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $12.53, for a total value of $313,250.00. Following the transaction, the executive vice president owned 116,923 shares of the company’s stock, valued at $1,465,045.19. This represents a 17.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is currently owned by company insiders.

Grocery Outlet Stock Performance

Grocery Outlet stock opened at $11.34 on Friday. The firm has a 50 day simple moving average of $13.42 and a 200-day simple moving average of $14.54. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -226.80, a price-to-earnings-growth ratio of 1.79 and a beta of 0.47. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.30 and a quick ratio of 0.25. Grocery Outlet Holding Corp. has a 1-year low of $10.21 and a 1-year high of $19.97.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Grocery Outlet had a negative net margin of 0.10% and a positive return on equity of 5.86%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. On average, analysts expect that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.