Cubist Systematic Strategies LLC Makes New $6.62 Million Investment in Grocery Outlet Holding Corp. $GO

Key Points

• Cubist Systematic Strategies LLC acquired 473,619 shares in Grocery Outlet Holding Corp., valued at approximately $6.6 million, which represents 0.48% ownership of the company.
• Analysts have set varied price targets for Grocery Outlet, with prices ranging from $16.00 to $19.00, while the stock currently has a consensus rating of "Hold".
• Grocery Outlet reported an earnings per share (EPS) of $0.23 for the last quarter, exceeding estimates, and anticipates a FY 2025 EPS guidance of 0.750-0.800.

Cubist Systematic Strategies LLC purchased a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 473,619 shares of the company's stock, valued at approximately $6,621,000. Cubist Systematic Strategies LLC owned 0.48% of Grocery Outlet as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. US Bancorp DE grew its holdings in Grocery Outlet by 64.2% during the first quarter. US Bancorp DE now owns 3,024 shares of the company's stock valued at $42,000 after purchasing an additional 1,182 shares during the period. GAMMA Investing LLC boosted its stake in shares of Grocery Outlet by 236.0% in the first quarter. GAMMA Investing LLC now owns 5,188 shares of the company's stock worth $73,000 after acquiring an additional 3,644 shares during the period. Quarry LP purchased a new stake in shares of Grocery Outlet during the first quarter worth about $111,000. Blair William & Co. IL purchased a new stake in shares of Grocery Outlet during the first quarter worth about $140,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Grocery Outlet during the first quarter worth about $153,000. Institutional investors own 99.87% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on GO. Telsey Advisory Group reissued a "market perform" rating and set a $16.00 price target on shares of Grocery Outlet in a research note on Wednesday, August 6th. Craig Hallum raised Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 price target for the company 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 target for the company 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 assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $16.08.

Insider Activity

In related news, EVP Steven K. Wilson sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was 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 of the company's stock, valued at approximately $2,588,675.52. This trade represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.50% of the company's stock.

Grocery Outlet Trading Up 1.1%

Shares of GO stock traded up $0.20 on Friday, reaching $18.32. 1,604,152 shares of the company's stock were exchanged, compared to its average volume of 2,614,791. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $21.67. The company has a current ratio of 1.21, a quick ratio of 0.25 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1.80 billion, a PE ratio of 261.75, a P/E/G ratio of 3.96 and a beta of 0.32. The company's fifty day simple moving average is $15.65 and its 200 day simple moving average is $14.47.

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, topping analysts' consensus estimates of $0.17 by $0.06. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company earned $0.25 EPS. Grocery Outlet'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, analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

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.