Grandeur Peak Global Advisors LLC Sells 356,649 Shares of Grocery Outlet Holding Corp. $GO

Grandeur Peak Global Advisors LLC cut its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 38.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 566,423 shares of the company’s stock after selling 356,649 shares during the quarter. Grandeur Peak Global Advisors LLC owned approximately 0.58% of Grocery Outlet worth $7,035,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GO. Parallel Advisors LLC increased its holdings in 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 purchasing an additional 1,379 shares during the period. PNC Financial Services Group Inc. increased its position in Grocery Outlet by 32.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock valued at $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 purchasing an additional 1,182 shares during the period. AlphaQuest LLC increased its holdings in Grocery Outlet by 327.7% during the second 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 Grocery Outlet during the 1st quarter valued at $111,000. Hedge funds and other institutional investors own 99.87% 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 1 year low of $10.21 and a 1 year high of $21.56. 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 company has a market capitalization of $1.10 billion, a PE ratio of -224.60, a P/E/G ratio of 1.76 and a beta of 0.33. The company has a fifty day moving average of $13.84 and a 200 day moving average of $14.63.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $1.17 billion for 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 firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. Research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GO. Weiss Ratings reiterated a “sell (d)” rating on shares of Grocery Outlet in a research note on Wednesday, October 8th. Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Wednesday, August 6th. Bank of America lowered their price target on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. UBS Group dropped their target price on shares of Grocery Outlet from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Finally, Telsey Advisory Group lowered Grocery Outlet from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.73.

Insiders Place Their Bets

In other Grocery Outlet news, EVP Steven K. Wilson sold 25,000 shares of the business’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 completion of the transaction, the executive vice president directly owned 116,923 shares of the company’s stock, valued at approximately $1,465,045.19. The trade was a 17.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.50% of the company’s stock.

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.