Grocery Outlet Holding Corp. $GO Position Lifted by TD Asset Management Inc

TD Asset Management Inc raised its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 113.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168,452 shares of the company’s stock after acquiring an additional 89,478 shares during the quarter. TD Asset Management Inc’s holdings in Grocery Outlet were worth $2,092,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Grocery Outlet by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company’s stock valued at $149,830,000 after acquiring an additional 582,822 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in 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 valued at $45,617,000 after acquiring an additional 3,068,405 shares during the last quarter. Wellington Management Group LLP bought a new position in Grocery Outlet during the 1st quarter valued at $43,509,000. Charles Schwab Investment Management Inc. boosted its stake in Grocery Outlet by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,326,657 shares of the company’s stock valued at $18,547,000 after acquiring an additional 18,026 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Grocery Outlet by 19.0% during the 1st quarter. Invesco Ltd. now owns 992,675 shares of the company’s stock valued at $13,878,000 after acquiring an additional 158,302 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Stock Down 3.0%

GO stock opened at $15.30 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 1.21 and a debt-to-equity ratio of 0.38. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $21.67. The firm’s 50-day simple moving average is $16.94 and its 200 day simple moving average is $15.16. The stock has a market cap of $1.50 billion, a PE ratio of 218.60, a price-to-earnings-growth ratio of 3.33 and a beta of 0.29.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Grocery Outlet had a net margin of 0.18% and a return on equity of 6.34%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the company earned $0.25 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. As a group, sell-side analysts predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Insider Buying and Selling at Grocery Outlet

In related news, EVP Steven K. Wilson sold 5,000 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $18.24, for a total value of $91,200.00. Following the sale, the executive vice president owned 141,923 shares of the company’s stock, valued at $2,588,675.52. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on GO. Zacks Research upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 16th. Weiss Ratings restated a “sell (d)” rating on shares of Grocery Outlet in a research report on Wednesday, October 8th. Telsey Advisory Group upgraded shares of Grocery Outlet from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $16.00 to $20.00 in a research report on Wednesday, October 1st. Morgan Stanley upgraded shares of Grocery Outlet from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $13.00 to $16.00 in a research report on Wednesday, August 6th. Finally, Craig Hallum upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.27.

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.