US Bancorp DE Boosts Stock Position in Grocery Outlet Holding Corp. $GO

US Bancorp DE lifted its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 64.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,024 shares of the company’s stock after buying an additional 1,182 shares during the quarter. US Bancorp DE’s holdings in Grocery Outlet were worth $42,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC raised its holdings in shares of Grocery Outlet by 53.9% in the 4th quarter. Sterling Capital Management LLC now owns 5,808 shares of the company’s stock valued at $91,000 after buying an additional 2,034 shares during the period. Invesco Ltd. raised its holdings in shares of Grocery Outlet by 11.1% in the 4th quarter. Invesco Ltd. now owns 834,373 shares of the company’s stock valued at $13,025,000 after buying an additional 83,043 shares during the period. 111 Capital purchased a new stake in shares of Grocery Outlet in the 4th quarter valued at $207,000. D.A. Davidson & CO. purchased a new stake in shares of Grocery Outlet in the 1st quarter valued at $165,000. Finally, Hussman Strategic Advisors Inc. purchased a new stake in shares of Grocery Outlet in the 1st quarter valued at $881,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Insider Transactions at Grocery Outlet

In related news, EVP Steven K. Wilson sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $19.20, for a total transaction of $384,000.00. Following the transaction, the executive vice president owned 146,923 shares in the company, valued at $2,820,921.60. This trade represents a 11.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on GO. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Wednesday, August 6th. Morgan Stanley upgraded Grocery Outlet from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $13.00 to $16.00 in a report on Wednesday, August 6th. UBS Group upped their price target on Grocery Outlet from $14.50 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Wells Fargo & Company upped their price target on Grocery Outlet from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $16.00 price target on shares of Grocery Outlet in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.08.

Grocery Outlet Price Performance

Shares of NASDAQ GO opened at $18.20 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.25 and a current ratio of 1.21. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $21.67. The firm has a market capitalization of $1.79 billion, a PE ratio of 260.04, a price-to-earnings-growth ratio of 4.00 and a beta of 0.27. The stock’s 50-day simple moving average is $14.31 and its 200-day simple moving average is $14.32.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. As a group, equities research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

About Grocery Outlet

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.