Goldman Sachs Group Inc. Reduces Stock Position in Grocery Outlet Holding Corp. $GO

Goldman Sachs Group Inc. lowered its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 34.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 215,270 shares of the company’s stock after selling 114,836 shares during the quarter. Goldman Sachs Group Inc. owned about 0.22% of Grocery Outlet worth $3,009,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GO. Wellington Management Group LLP acquired a new stake in Grocery Outlet during the first quarter worth about $43,509,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Grocery Outlet by 1,577.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,262,956 shares of the company’s stock valued at $45,617,000 after acquiring an additional 3,068,405 shares in the last quarter. Solas Capital Management LLC bought a new position in Grocery Outlet during the 1st quarter valued at about $13,736,000. Vanguard Group Inc. grew its position in shares of Grocery Outlet by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company’s stock worth $149,830,000 after buying an additional 582,822 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Grocery Outlet during the first quarter valued at approximately $6,621,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on GO shares. Morgan Stanley upgraded shares of 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. Telsey Advisory Group reaffirmed a “market perform” rating and set a $16.00 price objective on shares of Grocery Outlet in a research report on Wednesday, August 6th. Finally, Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday, August 6th. Three research 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 data from MarketBeat.com, Grocery Outlet currently has a consensus rating of “Hold” and a consensus target price of $16.08.

Grocery Outlet Stock Performance

GO opened at $16.55 on Friday. The company has a market cap of $1.62 billion, a P/E ratio of 236.46, a price-to-earnings-growth ratio of 3.63 and a beta of 0.32. Grocery Outlet Holding Corp. has a 52-week low of $10.26 and a 52-week high of $21.67. The firm’s 50-day moving average price is $16.51 and its 200-day moving average price is $14.71. 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 (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 0.18% and a return on equity of 6.34%. Grocery Outlet’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. As a group, equities analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, EVP Steven K. Wilson sold 5,000 shares of the company’s 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 transaction, the executive vice president directly 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 document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is currently owned by company insiders.

Grocery Outlet Company 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.