Grocery Outlet Holding Corp. $GO Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Grocery Outlet Holding Corp. by 34.8%, selling 114,836 shares and owning 215,270 shares worth approximately $3 million.
• Several institutional investors have increased their stakes in Grocery Outlet, with T. Rowe Price boosting its position by 1,577.2%, now holding over 3.26 million shares.
• Analysts have a mixed outlook on Grocery Outlet, with three ratings as Buy, nine as Hold, and a target price consensus around $16.08.

Goldman Sachs Group Inc. lowered its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 34.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 215,270 shares of the company's stock after selling 114,836 shares during the period. Goldman Sachs Group Inc. owned about 0.22% of Grocery Outlet worth $3,009,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE increased its stake in shares of 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 buying an additional 1,182 shares during the period. GAMMA Investing LLC raised its position in shares of Grocery Outlet by 236.0% in the 1st quarter. GAMMA Investing LLC now owns 5,188 shares of the company's stock valued at $73,000 after purchasing an additional 3,644 shares during the last quarter. Quarry LP purchased a new position in shares of Grocery Outlet in the 1st quarter valued at approximately $111,000. Blair William & Co. IL purchased a new position in shares of Grocery Outlet in the 1st quarter valued at approximately $140,000. Finally, HighTower Advisors LLC purchased a new position in shares of Grocery Outlet in the 1st quarter valued at approximately $153,000. Hedge funds and other institutional investors own 99.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a research report on Wednesday, August 6th. 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. Finally, Morgan Stanley raised shares of Grocery Outlet from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $13.00 to $16.00 in a research report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $16.00.

Insider Transactions at Grocery Outlet

In related news, EVP Steven K. Wilson sold 5,000 shares of Grocery Outlet stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $18.24, for a total value of $91,200.00. Following the sale, the executive vice president directly owned 141,923 shares in the company, valued at approximately $2,588,675.52. The trade was a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.50% of the company's stock.

Grocery Outlet Price Performance

GO stock traded down $0.19 during trading on Tuesday, hitting $15.42. The stock had a trading volume of 155,359 shares, compared to its average volume of 3,163,182. 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 Holding Corp. has a twelve month low of $10.26 and a twelve month high of $21.67. The stock has a market capitalization of $1.51 billion, a P/E ratio of 220.46, a PEG ratio of 3.54 and a beta of 0.32. The company's 50-day moving average price is $16.55 and its two-hundred day moving average price is $14.78.

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