Invesco Ltd. Buys 158,302 Shares of Grocery Outlet Holding Corp. $GO

Invesco Ltd. grew its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 19.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 992,675 shares of the company’s stock after acquiring an additional 158,302 shares during the period. Invesco Ltd. owned 1.01% of Grocery Outlet worth $13,878,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GO. Raymond James Financial Inc. bought a new position in shares of Grocery Outlet in the 4th quarter valued at about $1,079,000. Guggenheim Capital LLC grew its holdings in shares of Grocery Outlet by 9.1% in the 4th quarter. Guggenheim Capital LLC now owns 16,955 shares of the company’s stock valued at $265,000 after acquiring an additional 1,408 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of 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 in the last quarter. First Trust Advisors LP grew its holdings in shares of Grocery Outlet by 232.0% in the 4th quarter. First Trust Advisors LP now owns 688,691 shares of the company’s stock valued at $10,750,000 after acquiring an additional 481,223 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Grocery Outlet by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,833,955 shares of the company’s stock valued at $59,845,000 after acquiring an additional 35,938 shares in the last quarter. Institutional investors own 99.87% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GO. Wells Fargo & Company raised their price objective on 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 reiterated a “market perform” rating and issued a $16.00 target price on shares of Grocery Outlet in a research note on Wednesday, August 6th. UBS Group raised their target price on shares of Grocery Outlet from $14.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Craig Hallum upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, August 6th. Finally, Morgan Stanley upgraded shares of Grocery Outlet from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $13.00 to $16.00 in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.08.

Grocery Outlet Stock Performance

Shares of GO stock opened at $18.63 on Friday. The business’s 50-day moving average price is $14.61 and its 200-day moving average price is $14.37. Grocery Outlet Holding Corp. has a 12 month low of $10.26 and a 12 month high of $21.67. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 266.18, a PEG ratio of 4.03 and a beta of 0.27. The company has a current ratio of 1.21, a quick ratio of 0.25 and a debt-to-equity ratio of 0.38.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm 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 revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. Equities research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Insider Buying and Selling at Grocery Outlet

In other news, EVP Steven K. Wilson sold 5,000 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $18.24, for a total value of $91,200.00. Following the completion of the sale, the executive vice president owned 141,923 shares of the company’s stock, valued at approximately $2,588,675.52. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.

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.