Corient Private Wealth LLC Purchases New Position in Grocery Outlet Holding Corp. $GO

Corient Private Wealth LLC purchased a new position in Grocery Outlet Holding Corp. (NASDAQ:GO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 164,061 shares of the company’s stock, valued at approximately $2,038,000. Corient Private Wealth LLC owned 0.17% of Grocery Outlet at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Texas Permanent School Fund Corp raised its stake in shares of Grocery Outlet by 489.1% during the 2nd quarter. Texas Permanent School Fund Corp now owns 277,471 shares of the company’s stock worth $3,446,000 after buying an additional 230,369 shares during the period. Thrivent Financial for Lutherans raised its position in Grocery Outlet by 1.0% during the second quarter. Thrivent Financial for Lutherans now owns 72,087 shares of the company’s stock worth $895,000 after acquiring an additional 739 shares during the period. Caxton Associates LLP purchased a new position in Grocery Outlet during the second quarter valued at $534,000. Public Sector Pension Investment Board lifted its holdings in Grocery Outlet by 8.5% during the second quarter. Public Sector Pension Investment Board now owns 334,224 shares of the company’s stock valued at $4,151,000 after purchasing an additional 26,136 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Grocery Outlet by 289.8% in the second quarter. Headlands Technologies LLC now owns 28,635 shares of the company’s stock valued at $356,000 after purchasing an additional 21,288 shares during the period. 99.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GO shares. Zacks Research lowered shares of Grocery Outlet from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Morgan Stanley lowered their price target on Grocery Outlet from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 4th. TD Cowen dropped their price target on Grocery Outlet from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Wednesday, November 5th. Wells Fargo & Company decreased their price objective on Grocery Outlet from $19.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday. Finally, UBS Group reaffirmed a “neutral” rating and set a $11.50 target price on shares of Grocery Outlet in a research note on Thursday, December 18th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.86.

Grocery Outlet Stock Up 1.5%

NASDAQ GO opened at $10.20 on Wednesday. The business’s fifty day simple moving average is $12.14 and its 200-day simple moving average is $14.28. The company has a quick ratio of 0.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.00 billion, a PE ratio of -204.00, a P/E/G ratio of 1.60 and a beta of 0.47. Grocery Outlet Holding Corp. has a 52 week low of $9.74 and a 52 week high of $19.41.

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

Insider Activity at Grocery Outlet

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

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.