Grocery Outlet Holding Corp. $GO Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS lowered its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 11.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,500 shares of the company’s stock after selling 2,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Grocery Outlet were worth $230,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Zacks Research upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Grocery Outlet in a report on Wednesday, October 8th. 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 upgraded Grocery Outlet from a “market perform” rating to an “outperform” rating and raised their target price for the company from $16.00 to $20.00 in a research report on Wednesday, October 1st. Finally, Morgan Stanley upgraded Grocery Outlet from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $13.00 to $16.00 in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.27.

Grocery Outlet Stock Performance

Shares of NASDAQ GO opened at $15.77 on Tuesday. The stock has a fifty day moving average price of $17.00 and a two-hundred day moving average price of $15.16. 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 $1.55 billion, a P/E ratio of 225.32, a PEG ratio of 3.24 and a beta of 0.29. Grocery Outlet Holding Corp. has a 1 year low of $10.26 and a 1 year high of $21.67.

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 analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. Research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, EVP Steven K. Wilson sold 20,000 shares of the 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 completion of the transaction, the executive vice president directly 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.50% of the company’s stock.

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.