Rice Hall James & Associates LLC Boosts Stake in Grocery Outlet Holding Corp. $GO

Rice Hall James & Associates LLC lifted its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 165.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 315,898 shares of the company’s stock after purchasing an additional 196,737 shares during the quarter. Rice Hall James & Associates LLC owned about 0.32% of Grocery Outlet worth $5,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in Grocery Outlet by 213.5% in the second quarter. Parallel Advisors LLC now owns 2,025 shares of the company’s stock valued at $25,000 after buying an additional 1,379 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Grocery Outlet by 32.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock valued at $37,000 after acquiring an additional 719 shares during the period. AlphaQuest LLC lifted 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 worth $72,000 after acquiring an additional 4,414 shares during the last quarter. Quarry LP acquired a new stake in Grocery Outlet in the 1st quarter valued at approximately $111,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Grocery Outlet in the second quarter valued at approximately $120,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GO has been the topic of several research analyst reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $17.00 price objective on shares of Grocery Outlet in a report on Wednesday, December 3rd. UBS Group reissued a “neutral” rating and issued a $11.50 price objective on shares of Grocery Outlet in a research note on Thursday, December 18th. TD Cowen dropped their price objective on shares of Grocery Outlet from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. Morgan Stanley reduced their target price on shares of Grocery Outlet from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, December 4th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $15.00 price objective on shares of Grocery Outlet in a research report on Thursday, December 4th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.86.

Grocery Outlet Trading Up 0.1%

NASDAQ:GO opened at $10.27 on Friday. Grocery Outlet Holding Corp. has a 1 year low of $9.74 and a 1 year high of $19.41. The stock has a market cap of $1.01 billion, a P/E ratio of -205.40, a P/E/G ratio of 1.63 and a beta of 0.47. 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 50-day simple moving average of $11.84 and a 200-day simple moving average of $14.21.

Grocery Outlet (NASDAQ:GO) last issued its 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 business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Grocery Outlet had a positive return on equity of 5.86% and a negative net margin of 0.10%.The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. As a group, analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Grocery Outlet 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 transaction of $313,250.00. Following the completion of the sale, the executive vice president directly owned 116,923 shares of the company’s stock, valued at $1,465,045.19. This represents a 17.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.