Grocery Outlet Holding Corp. $GO is FPR Partners LLC's 4th Largest Position

Key Points

• FPR Partners LLC reduced its stake in Grocery Outlet Holding Corp. by 14.4%, selling 864,649 shares, making it the fund's fourth-largest position.
• Multiple hedge funds adjusted their positions in Grocery Outlet, with T. Rowe Price increasing their holdings by 1,577.2% during the first quarter.
• Grocery Outlet's recent earnings report showed $0.23 EPS, beating estimates and reflecting a 4.5% increase in revenue compared to the previous year.

FPR Partners LLC lessened its position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 14.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 5,126,825 shares of the company's stock after selling 864,649 shares during the period. Grocery Outlet makes up about 12.3% of FPR Partners LLC's holdings, making the stock its 4th largest position. FPR Partners LLC owned 5.23% of Grocery Outlet worth $71,673,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GO. Simcoe Capital Management LLC purchased a new position in shares of Grocery Outlet during the fourth quarter valued at approximately $53,185,000. Wellington Management Group LLP bought a new stake in shares of Grocery Outlet in the first quarter valued at $43,509,000. T. Rowe Price Investment Management Inc. raised its stake in shares of Grocery Outlet by 1,577.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,262,956 shares of the company's stock valued at $45,617,000 after buying an additional 3,068,405 shares during the period. Junto Capital Management LP bought a new stake in shares of Grocery Outlet in the fourth quarter valued at $39,128,000. Finally, Freestone Grove Partners LP bought a new stake in shares of Grocery Outlet during the 4th quarter valued at $13,602,000. Hedge funds and other institutional investors own 99.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GO shares. Morgan Stanley upgraded Grocery Outlet from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $13.00 to $16.00 in a research note on Wednesday, August 6th. Wells Fargo & Company upped their target price on 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 Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 target price on the stock in a research note on Wednesday, August 6th. Telsey Advisory Group reiterated a "market perform" rating and set a $16.00 price objective on shares of Grocery Outlet in a research report on Wednesday, August 6th. Finally, UBS Group increased their price objective on Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $16.08.

Insiders Place Their Bets

In related news, EVP Steven K. Wilson sold 5,000 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $18.24, for a total transaction of $91,200.00. Following the completion of the sale, the executive vice president directly owned 141,923 shares in the company, valued at $2,588,675.52. This represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.50% of the stock is owned by corporate insiders.

Grocery Outlet Price Performance

Shares of Grocery Outlet stock traded up $0.57 during trading on Friday, hitting $18.63. 2,519,221 shares of the stock traded hands, compared to its average volume of 4,191,041. 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 stock has a market cap of $1.83 billion, a price-to-earnings ratio of 266.18, a PEG ratio of 4.07 and a beta of 0.27. The firm's fifty day moving average is $14.61 and its 200-day moving average is $14.33. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week 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, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The company's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. Research analysts expect 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.