Cascade Investment Advisors Inc. Purchases Shares of 63,100 Grocery Outlet Holding Corp. $GO

Key Points

• Cascade Investment Advisors Inc. purchased 63,100 shares of Grocery Outlet Holding Corp., valued at approximately $784,000, increasing its stake to 0.06% of the company.
• Several analysts have upgraded their ratings on Grocery Outlet, with Craig Hallum setting a new price target of $17.00 and Telsey Advisory Group raising theirs to $20.00.
• Grocery Outlet reported quarterly earnings of $0.23 EPS, surpassing expectations and showing a 4.5% year-over-year revenue growth, despite expectations being slightly higher at $1.20 billion.

Cascade Investment Advisors Inc. purchased a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 63,100 shares of the company's stock, valued at approximately $784,000. Cascade Investment Advisors Inc. owned 0.06% of Grocery Outlet as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its position in Grocery Outlet by 213.5% during the 2nd 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 period. US Bancorp DE boosted its position in Grocery Outlet by 64.2% during the 1st quarter. US Bancorp DE now owns 3,024 shares of the company's stock valued at $42,000 after buying an additional 1,182 shares during the period. GAMMA Investing LLC boosted its position in Grocery Outlet by 236.0% during the 1st quarter. GAMMA Investing LLC now owns 5,188 shares of the company's stock valued at $73,000 after buying an additional 3,644 shares during the period. Quarry LP purchased a new stake in Grocery Outlet during the 1st quarter valued at $111,000. Finally, Blair William & Co. IL purchased a new stake in Grocery Outlet during the 1st quarter valued at $140,000. Hedge funds and other institutional investors own 99.87% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GO shares. Craig Hallum raised 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. Morgan Stanley raised shares of Grocery Outlet from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $13.00 to $16.00 in a research report on Wednesday, August 6th. Telsey Advisory Group raised shares of Grocery Outlet from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $16.00 to $20.00 in a research report on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Grocery Outlet in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $16.33.

Grocery Outlet Trading Down 0.5%

Shares of NASDAQ GO opened at $15.39 on Monday. Grocery Outlet Holding Corp. has a 1 year low of $10.26 and a 1 year high of $21.67. The stock has a market cap of $1.51 billion, a P/E ratio of 219.89, a price-to-earnings-growth ratio of 3.25 and a beta of 0.29. The firm has a 50-day moving average of $17.16 and a 200 day moving average of $15.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.21 and a quick ratio of 0.25.

Grocery Outlet (NASDAQ:GO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the company posted $0.25 EPS. Grocery Outlet's revenue was up 4.5% on a year-over-year basis. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. As a group, sell-side analysts expect that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Grocery Outlet news, EVP Steven K. Wilson sold 5,000 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $18.24, for a total transaction of $91,200.00. Following the completion of the sale, the executive vice president directly owned 141,923 shares in the company, valued at approximately $2,588,675.52. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.50% of the company's stock.

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.

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