Deutsche Bank AG Sells 920 Shares of Grocery Outlet Holding Corp. $GO

Deutsche Bank AG lessened its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,202 shares of the company’s stock after selling 920 shares during the period. Deutsche Bank AG owned about 0.10% of Grocery Outlet worth $1,429,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. US Bancorp DE raised its stake in Grocery Outlet by 64.2% in the first quarter. US Bancorp DE now owns 3,024 shares of the company’s stock valued at $42,000 after buying an additional 1,182 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of Grocery Outlet by 9.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 15,671 shares of the company’s stock worth $245,000 after acquiring an additional 1,377 shares during the period. Guggenheim Capital LLC increased its holdings in shares of Grocery Outlet by 9.1% during the 4th quarter. Guggenheim Capital LLC now owns 16,955 shares of the company’s stock worth $265,000 after acquiring an additional 1,408 shares during the last quarter. Red Spruce Capital LLC raised its stake in Grocery Outlet by 1.6% in the 1st quarter. Red Spruce Capital LLC now owns 132,968 shares of the company’s stock valued at $1,859,000 after acquiring an additional 2,044 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Grocery Outlet by 81.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $105,000 after acquiring an additional 3,000 shares during the period. 99.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, EVP Steven K. Wilson sold 20,000 shares of the company’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 directly owned 146,923 shares of the company’s stock, valued at approximately $2,820,921.60. This represents a 11.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.50% of the company’s stock.

Grocery Outlet Stock Performance

NASDAQ:GO opened at $18.63 on Friday. The company has a quick ratio of 0.25, a current ratio of 1.21 and a debt-to-equity ratio of 0.38. Grocery Outlet Holding Corp. has a twelve month low of $10.26 and a twelve month high of $21.67. The company has a fifty day moving average of $14.61 and a 200-day moving average of $14.37. The firm has a market capitalization of $1.83 billion, a P/E ratio of 266.18, a P/E/G ratio of 4.03 and a beta of 0.27.

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

Grocery Outlet 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.