Boston Partners Sells 327,101 Shares of Grocery Outlet Holding Corp. $GO

Key Points

• Boston Partners reduced its holdings in Grocery Outlet by 23.4%, selling 327,101 shares in the first quarter, bringing their ownership to approximately 1.09% of the company.
• Grocery Outlet's recent earnings report showed $0.23 earnings per share, exceeding analyst estimates, although revenue of $1.18 billion was slightly below expectations.
• Institutional investors now own 99.87% of Grocery Outlet, with several firms including Simcoe Capital Management and Vanguard Group increasing their stakes recently.

Boston Partners lowered its position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,068,137 shares of the company's stock after selling 327,101 shares during the quarter. Boston Partners owned about 1.09% of Grocery Outlet worth $14,937,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. US Bancorp DE increased its holdings in shares of Grocery Outlet by 64.2% in the first 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. Integrated Wealth Concepts LLC increased its holdings in shares of Grocery Outlet by 9.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 15,671 shares of the company's stock worth $245,000 after purchasing an additional 1,377 shares during the period. Guggenheim Capital LLC grew its position in Grocery Outlet by 9.1% in the fourth quarter. Guggenheim Capital LLC now owns 16,955 shares of the company's stock worth $265,000 after acquiring an additional 1,408 shares in the last quarter. Sterling Capital Management LLC grew its position in Grocery Outlet by 53.9% in the fourth quarter. Sterling Capital Management LLC now owns 5,808 shares of the company's stock worth $91,000 after acquiring an additional 2,034 shares in the last quarter. Finally, Red Spruce Capital LLC grew its position in Grocery Outlet by 1.6% in the first quarter. Red Spruce Capital LLC now owns 132,968 shares of the company's stock worth $1,859,000 after acquiring an additional 2,044 shares in the last quarter. Institutional investors own 99.87% of the company's stock.

Insider Transactions at Grocery Outlet

In related news, EVP Steven K. Wilson sold 20,000 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $19.20, for a total value of $384,000.00. Following the completion of the transaction, the executive vice president directly owned 146,923 shares of the company's stock, valued at $2,820,921.60. This represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GO has been the subject of several research reports. Wells Fargo & Company upped their target price on shares of Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Telsey Advisory Group restated a "market perform" rating and set a $16.00 price target on shares of Grocery Outlet in a research report on Wednesday, August 6th. UBS Group upped their price target on shares of Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Craig Hallum upgraded shares of Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 price target for the company in a research report on Wednesday, August 6th. Finally, Morgan Stanley upgraded shares of Grocery Outlet from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $13.00 to $16.00 in a research report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Grocery Outlet has an average rating of "Hold" and a consensus price target of $16.08.

Grocery Outlet Trading Up 0.2%

Shares of NASDAQ:GO traded up $0.04 during midday trading on Wednesday, hitting $18.24. 1,258,667 shares of the stock traded hands, compared to its average volume of 3,255,192. The stock has a market capitalization of $1.79 billion, a PE ratio of 260.67, a P/E/G ratio of 4.00 and a beta of 0.27. The business's 50 day moving average is $14.31 and its two-hundred day moving average is $14.32. 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 one year low of $10.26 and a one year high of $21.67.

Grocery Outlet (NASDAQ:GO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. Grocery Outlet had a net margin of 0.18% and a return on equity of 6.34%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The company's quarterly revenue 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, research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

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.