Advantage Alpha Capital Partners LP Buys 167,016 Shares of Grocery Outlet Holding Corp. $GO

Key Points

• Advantage Alpha Capital Partners LP increased its holdings in Grocery Outlet shares by 56.5% during the first quarter, making the stock its 9th largest position.
• Grocery Outlet reported an EPS of $0.23 for the latest quarter, exceeding analysts' expectations, while its revenue was slightly below consensus estimates at $1.18 billion.
• Analyst ratings have shifted positively, with multiple firms raising target prices, including Wells Fargo, which increased its target from $18.00 to $19.00, indicating a more favorable outlook on Grocery Outlet's performance.

Advantage Alpha Capital Partners LP increased its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 56.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 462,461 shares of the company's stock after acquiring an additional 167,016 shares during the quarter. Grocery Outlet comprises approximately 1.6% of Advantage Alpha Capital Partners LP's investment portfolio, making the stock its 9th biggest holding. Advantage Alpha Capital Partners LP owned about 0.47% of Grocery Outlet worth $6,465,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its stake in Grocery Outlet by 1,577.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,262,956 shares of the company's stock worth $45,617,000 after acquiring an additional 3,068,405 shares during the last quarter. Capital Fund Management S.A. bought a new position in Grocery Outlet in the first quarter valued at approximately $874,000. EntryPoint Capital LLC lifted its stake in Grocery Outlet by 49.5% in the first quarter. EntryPoint Capital LLC now owns 23,186 shares of the company's stock valued at $324,000 after buying an additional 7,673 shares in the last quarter. Hsbc Holdings PLC bought a new position in Grocery Outlet in the first quarter valued at approximately $558,000. Finally, Quantbot Technologies LP bought a new position in Grocery Outlet in the first quarter valued at approximately $1,342,000. Institutional investors own 99.87% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Grocery Outlet from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Craig Hallum raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 price target on the stock in a research note on Wednesday, August 6th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $16.00 price target on shares of Grocery Outlet in a research note on Wednesday, August 6th. Morgan Stanley raised shares of Grocery Outlet from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $13.00 to $16.00 in a research note on Wednesday, August 6th. Finally, UBS Group boosted their price objective 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. Three investment 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. According to data from MarketBeat.com, Grocery Outlet presently has an average rating of "Hold" and a consensus target price of $16.08.

Insiders Place Their Bets

In related news, EVP Steven K. Wilson sold 20,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $19.20, for a total transaction of $384,000.00. Following the transaction, the executive vice president directly owned 146,923 shares in the company, valued at approximately $2,820,921.60. The trade was a 11.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.50% of the company's stock.

Grocery Outlet Stock Up 3.2%

Shares of GO stock traded up $0.57 during trading on Friday, reaching $18.63. The company's stock had a trading volume of 2,519,221 shares, compared to its average volume of 4,191,041. The business has a fifty day moving average price of $14.61 and a 200-day moving average price of $14.33. The company has a quick ratio of 0.25, a current ratio of 1.21 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 266.18, a price-to-earnings-growth ratio of 4.07 and a beta of 0.27. Grocery Outlet Holding Corp. has a one year low of $10.26 and a one year high of $21.67.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced 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 analyst estimates of $1.20 billion. Grocery Outlet had a net margin of 0.18% and a return on equity of 6.34%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. Analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

About Grocery Outlet

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.