Ameritas Investment Partners Inc. Invests $120,000 in Grocery Outlet Holding Corp. $GO

Ameritas Investment Partners Inc. purchased a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,676 shares of the company’s stock, valued at approximately $120,000.

Other large investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in Grocery Outlet by 213.5% in the second quarter. Parallel Advisors LLC now owns 2,025 shares of the company’s stock worth $25,000 after purchasing an additional 1,379 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Grocery Outlet by 32.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock worth $37,000 after purchasing an additional 719 shares during the period. US Bancorp DE lifted its position in shares of Grocery Outlet by 64.2% in the 1st quarter. US Bancorp DE now owns 3,024 shares of the company’s stock worth $42,000 after buying an additional 1,182 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of Grocery Outlet by 327.7% in the 2nd quarter. AlphaQuest LLC now owns 5,761 shares of the company’s stock valued at $72,000 after buying an additional 4,414 shares during the period. Finally, Quarry LP bought a new stake in shares of Grocery Outlet during the 1st quarter valued at about $111,000. 99.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GO. Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Wednesday, August 6th. TD Cowen cut their price target on Grocery Outlet from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. DA Davidson reduced their price objective on Grocery Outlet from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grocery Outlet in a research report on Wednesday, October 8th. Finally, UBS Group cut their target price on Grocery Outlet from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Grocery Outlet currently has a consensus rating of “Hold” and a consensus target price of $15.73.

Grocery Outlet Stock Performance

Shares of GO stock opened at $11.23 on Tuesday. Grocery Outlet Holding Corp. has a 12-month low of $10.21 and a 12-month high of $20.88. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.30 and a quick ratio of 0.25. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -224.60, a price-to-earnings-growth ratio of 1.76 and a beta of 0.47. The business has a 50 day simple moving average of $13.75 and a 200 day simple moving average of $14.62.

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

Insiders Place Their Bets

In related news, EVP Steven K. Wilson sold 25,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $12.53, for a total value of $313,250.00. Following the completion of the sale, the executive vice president owned 116,923 shares of the company’s stock, valued at $1,465,045.19. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.50% of the stock is owned by insiders.

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.