Steven Wilson Sells 25,000 Shares of Grocery Outlet (NASDAQ:GO) Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) EVP Steven Wilson sold 25,000 shares of the company’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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Grocery Outlet Trading Down 4.6%

Shares of NASDAQ:GO traded down $0.56 during midday trading on Monday, hitting $11.59. 2,680,995 shares of the stock were exchanged, compared to its average volume of 3,157,196. The business’s 50-day moving average price is $15.82 and its 200 day moving average price is $15.12. Grocery Outlet Holding Corp. has a 12 month low of $10.26 and a 12 month high of $21.67. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.25 and a current ratio of 1.30. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -231.80, a P/E/G ratio of 1.97 and a beta of 0.33.

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

Hedge Funds Weigh In On Grocery Outlet

A number of institutional investors have recently modified their holdings of GO. TD Asset Management Inc increased its stake in Grocery Outlet by 16.7% during the 3rd quarter. TD Asset Management Inc now owns 196,618 shares of the company’s stock valued at $3,156,000 after purchasing an additional 28,166 shares in the last quarter. Dana Investment Advisors Inc. bought a new position in shares of Grocery Outlet in the third quarter valued at $5,925,000. Heartland Advisors Inc. acquired a new position in shares of Grocery Outlet during the third quarter valued at about $4,448,000. PNC Financial Services Group Inc. increased its position in shares of Grocery Outlet by 62.7% during the third quarter. PNC Financial Services Group Inc. now owns 4,788 shares of the company’s stock worth $77,000 after acquiring an additional 1,846 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its position in shares of Grocery Outlet by 14.5% during the third quarter. Public Sector Pension Investment Board now owns 382,696 shares of the company’s stock worth $6,142,000 after acquiring an additional 48,472 shares in the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GO has been the topic of a number of analyst reports. Telsey Advisory Group lowered Grocery Outlet from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. Morgan Stanley raised shares of Grocery Outlet from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $13.00 to $16.00 in a research note on Wednesday, August 6th. Weiss Ratings restated a “sell (d)” rating on shares of Grocery Outlet in a report on Wednesday, October 8th. UBS Group decreased their price target on Grocery Outlet from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, TD Cowen dropped their price objective on Grocery Outlet from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.