FPR Partners LLC Has $71.67 Million Holdings in Grocery Outlet Holding Corp. $GO

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 the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,126,825 shares of the company's stock after selling 864,649 shares during the period. Grocery Outlet comprises about 12.3% of FPR Partners LLC's portfolio, making the stock its 4th largest holding. FPR Partners LLC owned 5.23% of Grocery Outlet worth $71,673,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Grocery Outlet by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company's stock valued at $149,830,000 after purchasing an additional 582,822 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Grocery Outlet by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,833,955 shares of the company's stock valued at $59,845,000 after buying an additional 35,938 shares in the last quarter. Simcoe Capital Management LLC acquired a new position in shares of Grocery Outlet in the 4th quarter valued at approximately $53,185,000. T. Rowe Price Investment Management Inc. raised its position in shares of Grocery Outlet by 1,577.2% in the 1st 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 in the last quarter. Finally, Wellington Management Group LLP acquired a new position in Grocery Outlet during the 1st quarter worth approximately $43,509,000. Institutional investors own 99.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. 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. Craig Hallum raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 target price on the stock in a report on Wednesday, August 6th. Morgan Stanley raised shares of Grocery Outlet from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $13.00 to $16.00 in a report on Wednesday, August 6th. UBS Group upped their price objective on shares of Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company upped their price objective 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. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $16.08.

Grocery Outlet Stock Down 1.7%

Shares of GO stock traded down $0.31 on Wednesday, hitting $18.32. The stock had a trading volume of 1,176,799 shares, compared to its average volume of 3,223,428. The business has a 50 day moving average of $14.83 and a 200 day moving average of $14.37. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 261.27, a price-to-earnings-growth ratio of 4.06 and a beta of 0.27. 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 Holding Corp. has a 12-month low of $10.26 and a 12-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 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The company 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 firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. As a group, analysts expect that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Insider Buying and Selling at Grocery Outlet

In other news, EVP Steven K. Wilson sold 20,000 shares of Grocery Outlet stock in a transaction dated 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 owned 146,923 shares in the company, valued at $2,820,921.60. This trade represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is owned by insiders.

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.