Northern Trust Corp Trims Stock Position in Grocery Outlet Holding Corp. $GO

Key Points

• Northern Trust Corp reduced its stake in Grocery Outlet Holding Corp. by 5.8%, now owning 975,270 shares valued at approximately $13.63 million.
• Grocery Outlet's recent quarterly earnings report showed earnings per share of $0.23, surpassing analyst estimates of $0.17, while revenues totaled $1.18 billion.
• Institutional investors now hold 99.87% of Grocery Outlet's stock, with notable increases in holdings by several firms, including a significant 834.3% boost by Deutsche Bank AG.

Northern Trust Corp lowered its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 5.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 975,270 shares of the company's stock after selling 60,001 shares during the quarter. Northern Trust Corp owned 0.99% of Grocery Outlet worth $13,634,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Grocery Outlet by 6.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 60,454 shares of the company's stock valued at $944,000 after buying an additional 3,745 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Grocery Outlet by 76.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 28,741 shares of the company's stock worth $449,000 after purchasing an additional 12,440 shares during the last quarter. Algert Global LLC bought a new position in Grocery Outlet during the fourth quarter valued at approximately $414,000. BNP Paribas Financial Markets grew its holdings in Grocery Outlet by 46.1% during the 4th quarter. BNP Paribas Financial Markets now owns 241,835 shares of the company's stock valued at $3,775,000 after buying an additional 76,355 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Grocery Outlet by 834.3% in the fourth quarter. Deutsche Bank AG now owns 103,122 shares of the company's stock worth $1,610,000 after purchasing an additional 92,085 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company's stock.

Grocery Outlet Trading Up 1.1%

Shares of NASDAQ GO traded up $0.20 during mid-day trading on Friday, reaching $18.32. The company had a trading volume of 1,604,152 shares, compared to its average volume of 2,614,791. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 261.75, a price-to-earnings-growth ratio of 3.96 and a beta of 0.32. The business's 50-day moving average is $15.65 and its 200-day moving average is $14.47. 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.

Grocery Outlet (NASDAQ:GO - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 EPS 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 analyst estimates of $1.20 billion. Grocery Outlet had a net margin of 0.18% and a return on equity of 6.34%. The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. Equities analysts expect that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Insider Activity at Grocery Outlet

In related news, EVP Steven K. Wilson sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 141,923 shares of the company's stock, valued at $2,588,675.52. This trade represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GO shares. Morgan Stanley upgraded shares of Grocery Outlet from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $13.00 to $16.00 in a research report on Wednesday, August 6th. Craig Hallum upgraded shares of Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 target price for the company in a report on Wednesday, August 6th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Grocery Outlet currently has an average rating of "Hold" and a consensus target price of $16.08.

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.