Grocery Outlet Holding Corp. $GO Shares Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc raised its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 113.3%, acquiring an additional 89,478 shares during the second quarter, bringing its total ownership to $2,092,000.
• Several analysts have recently upgraded Grocery Outlet's ratings, with Telsey Advisory Group increasing their price target from $16.00 to $20.00 and Zacks Research changing their rating to strong-buy.
• For the latest quarter, Grocery Outlet reported an earnings per share of $0.23, beating estimates, while setting FY 2025 guidance at 0.750-0.800 EPS.

TD Asset Management Inc raised its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 113.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 168,452 shares of the company's stock after purchasing an additional 89,478 shares during the period. TD Asset Management Inc owned 0.17% of Grocery Outlet worth $2,092,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GO. Parallel Advisors LLC increased its position in Grocery Outlet by 213.5% during the second quarter. Parallel Advisors LLC now owns 2,025 shares of the company's stock worth $25,000 after purchasing an additional 1,379 shares during the last quarter. US Bancorp DE increased its position in Grocery Outlet by 64.2% during the first 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 last quarter. GAMMA Investing LLC increased 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 purchasing an additional 3,644 shares during the last quarter. Quarry LP acquired a new position in Grocery Outlet during the first quarter worth approximately $111,000. Finally, Blair William & Co. IL acquired a new position in Grocery Outlet during the first quarter worth approximately $140,000. Institutional investors and hedge funds own 99.87% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Telsey Advisory Group raised shares of Grocery Outlet from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $16.00 to $20.00 in a research report on Wednesday, October 1st. Zacks Research raised shares of Grocery Outlet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 16th. Weiss Ratings reissued a "sell (d)" rating on shares of Grocery Outlet in a research report on Wednesday, October 8th. Craig Hallum raised 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 report on Wednesday, August 6th. Finally, Morgan Stanley raised shares of Grocery Outlet from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $13.00 to $16.00 in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $16.27.

Grocery Outlet Price Performance

Shares of GO stock opened at $15.30 on Wednesday. The company has a market capitalization of $1.50 billion, a PE ratio of 218.60, a price-to-earnings-growth ratio of 3.33 and a beta of 0.29. The firm has a fifty day simple moving average of $16.94 and a 200-day simple moving average of $15.16. 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 Holding Corp. has a twelve month low of $10.26 and a twelve month high of $21.67.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Grocery Outlet had a net margin of 0.18% and a return on equity of 6.34%. The business's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. Equities research analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In other news, EVP Steven K. Wilson sold 20,000 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $19.20, for a total value of $384,000.00. Following the completion of the transaction, the executive vice president directly owned 146,923 shares in the company, valued at approximately $2,820,921.60. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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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