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

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Grocery Outlet by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company's stock worth $149,830,000 after purchasing an additional 582,822 shares in the last quarter. FPR Partners LLC boosted its holdings in Grocery Outlet by 15.2% in the fourth quarter. FPR Partners LLC now owns 5,991,474 shares of the company's stock worth $93,527,000 after acquiring an additional 791,474 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Grocery Outlet by 0.9% during the fourth 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 during the last quarter. Simcoe Capital Management LLC purchased a new stake in shares of Grocery Outlet during the fourth quarter worth about $53,185,000. Finally, Junto Capital Management LP acquired a new position in shares of Grocery Outlet during the fourth quarter valued at about $39,128,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Stock Up 3.2%

Shares of GO stock opened at $18.63 on Friday. Grocery Outlet Holding Corp. has a twelve month low of $10.26 and a twelve month high of $21.67. The stock has a market cap of $1.83 billion, a P/E ratio of 266.18, a P/E/G ratio of 4.03 and a beta of 0.27. The stock has a 50 day moving average of $14.61 and a 200 day moving average of $14.37. The company has a current ratio of 1.21, a quick ratio of 0.25 and a debt-to-equity ratio of 0.38.

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, topping analysts' consensus estimates of $0.17 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.20 billion. Grocery Outlet had a net margin of 0.18% and a return on equity of 6.34%. The business's revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. 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 year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Grocery Outlet news, EVP Steven K. Wilson sold 5,000 shares of Grocery Outlet stock in a transaction on Friday, August 15th. The shares were sold at an average price of $18.24, for a total value of $91,200.00. Following the completion of the transaction, the executive vice president owned 141,923 shares of the company's stock, valued at approximately $2,588,675.52. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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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