Truist Financial Corp Sells 1,806 Shares of Grocery Outlet Holding Corp. $GO

Truist Financial Corp cut its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 14.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,636 shares of the company’s stock after selling 1,806 shares during the quarter. Truist Financial Corp’s holdings in Grocery Outlet were worth $132,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GO. Parallel Advisors LLC boosted its position in shares of Grocery Outlet by 213.5% during the 2nd quarter. Parallel Advisors LLC now owns 2,025 shares of the company’s stock worth $25,000 after acquiring an additional 1,379 shares in the last quarter. US Bancorp DE raised 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 valued at $42,000 after acquiring an additional 1,182 shares during the last quarter. GAMMA Investing LLC raised 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 valued at $73,000 after acquiring an additional 3,644 shares during the last quarter. Quarry LP bought a new position in shares of Grocery Outlet during the first quarter valued at $111,000. Finally, Blair William & Co. IL bought a new position in Grocery Outlet during the first quarter worth $140,000. 99.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Steven K. Wilson sold 20,000 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $19.20, for a total transaction of $384,000.00. Following the transaction, the executive vice president directly owned 146,923 shares in the company, valued at approximately $2,820,921.60. The trade was a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Morgan Stanley raised shares of Grocery Outlet from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $13.00 to $16.00 in a research note on Wednesday, August 6th. 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 note on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grocery Outlet in a research note on Wednesday, October 8th. Telsey Advisory Group raised shares of Grocery Outlet from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $16.00 to $20.00 in a research note on Wednesday, October 1st. Finally, Zacks Research raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned 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, the company currently has an average rating of “Hold” and an average price target of $16.27.

Grocery Outlet Price Performance

Shares of NASDAQ GO opened at $15.36 on Friday. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $21.67. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 219.46, a PEG ratio of 3.24 and a beta of 0.29. 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’s 50-day simple moving average is $17.05 and its 200 day simple moving average is $15.13.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings results 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 net margin of 0.18% and a return on equity of 6.34%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the firm earned $0.25 EPS. The firm’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, research 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.