Public Employees Retirement System of Ohio Has $40,000 Stake in Grocery Outlet Holding Corp. $GO

Public Employees Retirement System of Ohio reduced its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 90.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,204 shares of the company’s stock after selling 28,826 shares during the period. Public Employees Retirement System of Ohio’s holdings in Grocery Outlet were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GO. Wellington Management Group LLP acquired a new stake in Grocery Outlet during the 1st quarter worth approximately $43,509,000. T. Rowe Price Investment Management Inc. lifted its holdings in 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 worth $45,617,000 after purchasing an additional 3,068,405 shares during the last quarter. Solas Capital Management LLC acquired a new stake in Grocery Outlet during the 1st quarter worth approximately $13,736,000. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 582,822 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Grocery Outlet during the 1st quarter worth approximately $6,621,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GO has been the subject of several research reports. Telsey Advisory Group raised Grocery Outlet from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $16.00 to $20.00 in a report on Wednesday, October 1st. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Wednesday, August 6th. Morgan Stanley upgraded Grocery Outlet from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $13.00 to $16.00 in a research note on Wednesday, August 6th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Grocery Outlet in a research note on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $16.33.

Insiders Place Their Bets

In related news, EVP Steven K. Wilson sold 5,000 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $18.24, for a total transaction of $91,200.00. Following the sale, the executive vice president owned 141,923 shares in the company, valued at $2,588,675.52. The trade was a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by corporate insiders.

Grocery Outlet Trading Down 0.2%

Shares of GO opened at $16.09 on Wednesday. Grocery Outlet Holding Corp. has a 52-week low of $10.26 and a 52-week high of $21.67. The business’s fifty day moving average is $17.02 and its 200-day moving average is $15.01. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.25 and a current ratio of 1.21. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 229.89, a PEG ratio of 3.45 and a beta of 0.29.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results 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. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the company posted $0.25 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. Equities analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal 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.