Envestnet Asset Management Inc. Has $254,000 Holdings in Grocery Outlet Holding Corp. $GO

Envestnet Asset Management Inc. decreased its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 25.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,487 shares of the company’s stock after selling 6,868 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Grocery Outlet were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. US Bancorp DE increased its stake in Grocery Outlet by 64.2% during the 1st quarter. US Bancorp DE now owns 3,024 shares of the company’s stock valued at $42,000 after purchasing an additional 1,182 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Grocery Outlet by 213.5% during the second 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. Rafferty Asset Management LLC raised its holdings in shares of Grocery Outlet by 14.3% in the 1st quarter. Rafferty Asset Management LLC now owns 25,165 shares of the company’s stock worth $352,000 after acquiring an additional 3,158 shares during the last quarter. AlphaQuest LLC boosted its stake in Grocery Outlet by 327.7% during the 2nd quarter. AlphaQuest LLC now owns 5,761 shares of the company’s stock valued at $72,000 after purchasing an additional 4,414 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in Grocery Outlet by 8.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 58,360 shares of the company’s stock worth $724,000 after purchasing an additional 4,538 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors.

Insider Transactions at Grocery Outlet

In related news, EVP Steven K. Wilson sold 25,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $12.53, for a total value of $313,250.00. Following the sale, the executive vice president directly owned 116,923 shares in the company, valued at approximately $1,465,045.19. The trade was a 17.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Grocery Outlet Trading Up 2.4%

NASDAQ:GO opened at $11.23 on Friday. Grocery Outlet Holding Corp. has a 12 month low of $10.21 and a 12 month high of $21.56. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $13.84 and its 200 day moving average is $14.62. The stock has a market capitalization of $1.10 billion, a PE ratio of -224.60, a price-to-earnings-growth ratio of 1.73 and a beta of 0.33.

Grocery Outlet (NASDAQ:GO) last released its earnings results on Tuesday, November 4th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Grocery Outlet had a positive return on equity of 5.86% and a negative net margin of 0.10%.The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. Sell-side analysts expect that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

GO has been the topic of several analyst reports. Bank of America cut their target price on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. 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 note on Wednesday, August 6th. UBS Group reduced their target price on Grocery Outlet from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. DA Davidson dropped their price target on Grocery Outlet from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Finally, Telsey Advisory Group cut Grocery Outlet from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.73.

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.