Squarepoint Ops LLC Sells 226,644 Shares of Grocery Outlet Holding Corp. $GO

Squarepoint Ops LLC trimmed its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 62.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 135,050 shares of the company’s stock after selling 226,644 shares during the period. Squarepoint Ops LLC owned about 0.14% of Grocery Outlet worth $1,677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Rip Road Capital Partners LP raised its stake in shares of Grocery Outlet by 33.9% in the first quarter. Rip Road Capital Partners LP now owns 707,900 shares of the company’s stock worth $9,896,000 after purchasing an additional 179,300 shares during the last quarter. Intech Investment Management LLC bought a new stake in Grocery Outlet during the second quarter worth $3,835,000. Inspire Investing LLC purchased a new stake in Grocery Outlet in the 1st quarter valued at $345,000. Eisler Capital Management Ltd. lifted its stake in Grocery Outlet by 178.5% during the 2nd quarter. Eisler Capital Management Ltd. now owns 227,101 shares of the company’s stock valued at $2,821,000 after acquiring an additional 145,554 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in Grocery Outlet by 113.3% during the 2nd quarter. TD Asset Management Inc now owns 168,452 shares of the company’s stock worth $2,092,000 after acquiring an additional 89,478 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GO has been the subject of several analyst reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $17.00 target price on shares of Grocery Outlet in a report on Wednesday, December 3rd. Wells Fargo & Company decreased their price objective on shares of Grocery Outlet from $19.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday. Morgan Stanley cut their target price on Grocery Outlet from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 4th. Bank of America reduced their target price on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Grocery Outlet in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.86.

Grocery Outlet Trading Up 1.2%

Shares of GO stock opened at $10.00 on Friday. The company has a quick ratio of 0.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.40. The firm has a market cap of $981.40 million, a P/E ratio of -200.00, a PEG ratio of 1.57 and a beta of 0.47. The company has a 50 day moving average of $12.35 and a 200-day moving average of $14.33. Grocery Outlet Holding Corp. has a 12-month low of $9.74 and a 12-month high of $19.41.

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

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, EVP Steven K. Wilson sold 25,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $12.53, for a total transaction of $313,250.00. Following the sale, the executive vice president directly owned 116,923 shares of the company’s stock, valued at $1,465,045.19. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.50% of the company’s stock.

Grocery Outlet Profile

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.