Grocery Outlet Holding Corp. $GO Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its holdings in Grocery Outlet Holding Corp. by 14.6%, owning approximately 0.13% of the company valued at $1,749,000 after acquiring additional shares.
• Several analysts have recently upgraded their ratings on Grocery Outlet, with Morgan Stanley increasing its target price from $13.00 to $16.00, and Craig Hallum setting a target price of $17.00.
• Grocery Outlet reported $0.23 EPS for the latest quarter, surpassing expectations, while its revenue increased 4.5% compared to the previous year.

American Century Companies Inc. raised its position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 14.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,113 shares of the company's stock after purchasing an additional 15,919 shares during the period. American Century Companies Inc. owned 0.13% of Grocery Outlet worth $1,749,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of GO. US Bancorp DE boosted its stake in Grocery Outlet by 64.2% during the 1st quarter. US Bancorp DE now owns 3,024 shares of the company's stock worth $42,000 after purchasing an additional 1,182 shares during the period. GAMMA Investing LLC raised its position in Grocery Outlet by 236.0% during 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 last quarter. Blair William & Co. IL acquired a new position in Grocery Outlet during the first quarter worth about $140,000. HighTower Advisors LLC acquired a new position in Grocery Outlet during the first quarter worth about $153,000. Finally, D.A. Davidson & CO. acquired a new position in shares of Grocery Outlet in the first quarter valued at approximately $165,000. Institutional investors and hedge funds own 99.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GO. Telsey Advisory Group restated a "market perform" rating and issued a $16.00 target price on shares of Grocery Outlet in a report on Wednesday, August 6th. Wells Fargo & Company boosted their price objective on shares of Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Craig Hallum upgraded shares of 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. 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 note on Wednesday, May 7th. Finally, Morgan Stanley upgraded shares of Grocery Outlet from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $13.00 to $16.00 in a research note on Wednesday, August 6th. Three 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. According to MarketBeat, Grocery Outlet presently has a consensus rating of "Hold" and an average price target of $16.08.

Grocery Outlet Stock Down 0.3%

GO traded down $0.06 during trading hours on Thursday, reaching $18.12. 2,098,111 shares of the stock traded hands, compared to its average volume of 3,212,859. The firm's fifty day simple moving average is $15.42 and its two-hundred day simple moving average is $14.44. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 258.89, a PEG ratio of 3.96 and a beta of 0.32. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $21.67. 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 (NASDAQ:GO - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The business had revenue of $1.18 billion during 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 business's revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS. 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 earnings per share for the current fiscal year.

Insider Transactions at Grocery Outlet

In related news, EVP Steven K. Wilson sold 5,000 shares of the company's 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 sale, the executive vice president directly owned 141,923 shares of the company's stock, valued at $2,588,675.52. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.50% of the stock is owned by corporate insiders.

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.