Charles Schwab Investment Management Inc. Has $18.55 Million Stock Position in Grocery Outlet Holding Corp. $GO

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Grocery Outlet Holding Corp. by 1.4%, acquiring an additional 18,026 shares, bringing its total holdings to 1,326,657 shares valued at approximately $18.5 million.
• Grocery Outlet reported a quarterly earnings per share (EPS) of $0.23, exceeding analysts' estimates, and had a year-over-year revenue increase of 4.5%, totaling $1.18 billion.
• The stock price of Grocery Outlet saw a modest increase of 3.2% recently, with current trading at $18.63, while analysts maintain a consensus rating of "Hold" with a target price of $16.08.

Charles Schwab Investment Management Inc. grew its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,326,657 shares of the company's stock after purchasing an additional 18,026 shares during the period. Charles Schwab Investment Management Inc. owned about 1.35% of Grocery Outlet worth $18,547,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GO. Raymond James Financial Inc. purchased a new stake in shares of Grocery Outlet during the fourth quarter valued at $1,079,000. Guggenheim Capital LLC lifted its stake in Grocery Outlet by 9.1% in the 4th 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. Canada Pension Plan Investment Board lifted its stake in Grocery Outlet by 81.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company's stock worth $105,000 after acquiring an additional 3,000 shares in the last quarter. First Trust Advisors LP lifted its stake in Grocery Outlet by 232.0% in the 4th quarter. First Trust Advisors LP now owns 688,691 shares of the company's stock worth $10,750,000 after acquiring an additional 481,223 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Grocery Outlet by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,833,955 shares of the company's stock worth $59,845,000 after acquiring an additional 35,938 shares in the last quarter. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Stock Down 2.3%

Shares of NASDAQ GO traded down $0.42 during mid-day trading on Thursday, reaching $18.08. 3,514,472 shares of the company traded hands, compared to its average volume of 4,144,658. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.25 and a current ratio of 1.21. The stock has a market cap of $1.77 billion, a PE ratio of 258.32, a price-to-earnings-growth ratio of 4.04 and a beta of 0.27. The company's fifty day moving average is $15.04 and its two-hundred day moving average is $14.40. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week 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 analysts' consensus estimates of $0.17 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. On average, analysts expect that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GO shares. Wells Fargo & Company increased their price objective on Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. UBS Group increased their price objective on Grocery Outlet from $14.50 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Craig Hallum raised Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 price objective for the company in a research note on Wednesday, August 6th. Telsey Advisory Group reissued a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a research note on Wednesday, August 6th. Finally, Morgan Stanley raised Grocery Outlet from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $13.00 to $16.00 in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $16.08.

Insider Activity at Grocery Outlet

In other news, EVP Steven K. Wilson sold 20,000 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $19.20, for a total transaction of $384,000.00. Following the transaction, the executive vice president owned 146,923 shares of the company's stock, valued at approximately $2,820,921.60. This represents a 11.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.50% of the company's stock.

Grocery Outlet 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.