Inspire Investing LLC Takes Position in Grocery Outlet Holding Corp. $GO

Key Points

• Inspire Investing LLC acquired a new stake in Grocery Outlet Holding Corp., purchasing 24,652 shares valued at approximately $345,000.
• Institutional investors own 99.87% of Grocery Outlet, with significant increases in positions by firms like Deutsche Bank AG and Two Sigma Investments LP.
• Grocery Outlet's recent earnings report showed an EPS of $0.23, surpassing estimates, and the company has set FY 2025 guidance at 0.750-0.800 EPS.

Inspire Investing LLC bought a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 24,652 shares of the company's stock, valued at approximately $345,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GO. Vanguard Group Inc. raised its holdings in shares of Grocery Outlet by 5.8% during the first quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company's stock valued at $149,830,000 after buying an additional 582,822 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Grocery Outlet by 1,577.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,262,956 shares of the company's stock worth $45,617,000 after purchasing an additional 3,068,405 shares in the last quarter. Wellington Management Group LLP bought a new stake in Grocery Outlet during the first quarter worth approximately $43,509,000. Charles Schwab Investment Management Inc. raised its holdings in Grocery Outlet by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,326,657 shares of the company's stock worth $18,547,000 after purchasing an additional 18,026 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its holdings in Grocery Outlet by 28.8% during the fourth quarter. Voloridge Investment Management LLC now owns 1,239,352 shares of the company's stock worth $19,346,000 after purchasing an additional 277,489 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Steven K. Wilson sold 20,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $19.20, for a total value of $384,000.00. Following the transaction, the executive vice president owned 146,923 shares of the company's stock, valued at $2,820,921.60. This represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GO has been the subject of several recent research reports. Telsey Advisory Group reiterated a "market perform" rating and set a $16.00 price objective on shares of Grocery Outlet in a report on Wednesday, August 6th. Morgan Stanley upgraded shares of Grocery Outlet from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $13.00 to $16.00 in a research note on Wednesday, August 6th. Finally, Craig Hallum raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 price target for the company in a report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Grocery Outlet currently has an average rating of "Hold" and a consensus target price of $16.08.

Grocery Outlet Price Performance

Shares of Grocery Outlet stock traded down $0.42 during trading on Friday, hitting $16.55. The stock had a trading volume of 5,846,569 shares, compared to its average volume of 2,270,095. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 236.46, a P/E/G ratio of 3.63 and a beta of 0.32. Grocery Outlet Holding Corp. has a 12 month low of $10.26 and a 12 month high of $21.67. The business's 50-day moving average is $16.51 and its 200 day moving average is $14.71. 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 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter 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. As a group, sell-side analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

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.