Rhumbline Advisers Lowers Position in Grocery Outlet Holding Corp. $GO

Rhumbline Advisers lessened its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 5.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 222,094 shares of the company’s stock after selling 13,143 shares during the period. Rhumbline Advisers owned about 0.23% of Grocery Outlet worth $3,105,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GO. US Bancorp DE lifted its position in shares of Grocery Outlet by 64.2% during the 1st 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 in the last quarter. GAMMA Investing LLC lifted its position in shares of Grocery Outlet by 236.0% during the 1st quarter. GAMMA Investing LLC now owns 5,188 shares of the company’s stock valued at $73,000 after buying an additional 3,644 shares in the last quarter. Quarry LP purchased a new position in shares of Grocery Outlet during the 1st quarter valued at approximately $111,000. Blair William & Co. IL purchased a new position in shares of Grocery Outlet during the 1st quarter valued at approximately $140,000. Finally, HighTower Advisors LLC purchased a new position in shares of Grocery Outlet during the 1st quarter valued at approximately $153,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Price Performance

Shares of NASDAQ GO opened at $16.71 on Tuesday. 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 Holding Corp. has a twelve month low of $10.26 and a twelve month high of $21.67. The stock has a 50 day moving average of $16.21 and a two-hundred day moving average of $14.61. The stock has a market cap of $1.64 billion, a P/E ratio of 238.75, a P/E/G ratio of 3.80 and a beta of 0.32.

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

Insiders Place Their Bets

In related news, EVP Steven K. Wilson sold 20,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $2,820,921.60. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Wednesday, August 6th. Telsey Advisory Group reiterated a “market perform” rating and set a $16.00 target price on shares of Grocery Outlet in a research report on Wednesday, August 6th. Finally, Morgan Stanley upgraded Grocery Outlet from an “underweight” rating to an “equal weight” rating and raised their price objective for the company 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.