HighTower Advisors LLC Makes New Investment in Grocery Outlet Holding Corp. $GO

HighTower Advisors LLC acquired a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,932 shares of the company’s stock, valued at approximately $153,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE lifted its stake in shares of Grocery Outlet by 64.2% during the first quarter. US Bancorp DE now owns 3,024 shares of the company’s stock worth $42,000 after purchasing an additional 1,182 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Grocery Outlet by 236.0% during the first quarter. GAMMA Investing LLC now owns 5,188 shares of the company’s stock worth $73,000 after purchasing an additional 3,644 shares in the last quarter. Blair William & Co. IL acquired a new position in shares of Grocery Outlet during the first quarter worth about $140,000. D.A. Davidson & CO. acquired a new position in shares of Grocery Outlet during the first quarter worth about $165,000. Finally, Teacher Retirement System of Texas acquired a new position in Grocery Outlet in the 1st quarter worth $199,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Stock Down 0.3%

Shares of Grocery Outlet stock opened at $18.12 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. The firm has a market cap of $1.78 billion, a P/E ratio of 258.89, a P/E/G ratio of 3.97 and a beta of 0.32. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $21.67. The business has a 50-day moving average price of $15.53 and a 200 day moving average price of $14.45.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company earned $0.25 earnings per share. Grocery Outlet’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. On average, sell-side analysts forecast that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In related news, EVP Steven K. Wilson sold 5,000 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $18.24, for a total transaction 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 $2,588,675.52. This represents a 3.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on GO. Craig Hallum upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Wednesday, August 6th. Telsey Advisory Group reiterated a “market perform” rating and issued a $16.00 price objective on shares of Grocery Outlet in a report on Wednesday, August 6th. Finally, Morgan Stanley upgraded shares of Grocery Outlet from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $13.00 to $16.00 in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Grocery Outlet currently has a consensus rating of “Hold” and a consensus price target of $16.08.

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.