Janney Montgomery Scott LLC Purchases New Holdings in Grocery Outlet Holding Corp. $GO

Janney Montgomery Scott LLC purchased a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 29,075 shares of the company’s stock, valued at approximately $361,000.

Other hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in Grocery Outlet by 213.5% during the 2nd quarter. Parallel Advisors LLC now owns 2,025 shares of the company’s stock valued at $25,000 after purchasing an additional 1,379 shares during the last quarter. US Bancorp DE boosted its position in Grocery Outlet by 64.2% in 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 during the period. GAMMA Investing LLC boosted its position in Grocery Outlet by 236.0% in 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 during the period. Quarry LP purchased a new stake in Grocery Outlet in the 1st quarter valued at about $111,000. Finally, Blair William & Co. IL purchased a new stake in Grocery Outlet in the 1st quarter valued at about $140,000. 99.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GO. Morgan Stanley raised shares of Grocery Outlet from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $13.00 to $16.00 in a research report on Wednesday, August 6th. Zacks Research raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Telsey Advisory Group raised shares of Grocery Outlet from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $16.00 to $20.00 in a research report on Wednesday, October 1st. Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grocery Outlet in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Grocery Outlet presently has an average rating of “Hold” and an average target price of $16.27.

Insider Activity

In other Grocery Outlet news, EVP Steven K. Wilson sold 20,000 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $19.20, for a total value of $384,000.00. Following the completion of the transaction, the executive vice president owned 146,923 shares of the company’s stock, valued at approximately $2,820,921.60. This trade represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Grocery Outlet Trading Up 2.3%

NASDAQ:GO opened at $15.36 on Friday. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $21.67. The firm has a 50 day moving average of $17.05 and a 200 day moving average of $15.13. 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 stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 219.46, a PEG ratio of 3.24 and a beta of 0.29.

Grocery Outlet (NASDAQ:GO) last posted its 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. Grocery Outlet had a net margin of 0.18% and a return on equity of 6.34%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. Grocery Outlet’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. As a group, sell-side analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

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.