Interval Partners LP Sells 161,706 Shares of Grocery Outlet Holding Corp. $GO

Key Points

• Interval Partners LP reduced its stake in Grocery Outlet Holding Corp. by 55.7%, holding 128,561 shares worth approximately $1.8 million after selling 161,706 shares in Q1.
• Grocery Outlet's recent quarterly earnings showed a 4.5% revenue growth year-over-year, reporting earnings per share of $0.23, exceeding the consensus estimate of $0.17.
• Several investment analysts upgraded their ratings on Grocery Outlet, with a consensus rating of "Hold" and a price target of $16.08, while three analysts rated it as a Buy.

Interval Partners LP trimmed its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 55.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,561 shares of the company's stock after selling 161,706 shares during the period. Interval Partners LP owned approximately 0.13% of Grocery Outlet worth $1,797,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GO. US Bancorp DE lifted its position in shares of 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 in the last quarter. GAMMA Investing LLC raised its stake in shares of 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 buying an additional 3,644 shares during the last quarter. Quarry LP bought a new stake in shares of Grocery Outlet during the first quarter worth approximately $111,000. Blair William & Co. IL bought a new stake in shares of Grocery Outlet during the first quarter worth approximately $140,000. Finally, HighTower Advisors LLC bought a new stake in shares of Grocery Outlet during the first quarter worth approximately $153,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Steven K. Wilson sold 5,000 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $18.24, for a total value of $91,200.00. Following the transaction, the executive vice president directly owned 141,923 shares of the company's stock, valued at $2,588,675.52. This represents a 3.40% 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. 4.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GO. 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. Telsey Advisory Group restated a "market perform" rating and set a $16.00 target price on shares of Grocery Outlet in a report on Wednesday, August 6th. Finally, Morgan Stanley upgraded shares of Grocery Outlet from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $13.00 to $16.00 in a report on Wednesday, August 6th. 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $16.08.

Grocery Outlet Stock Performance

GO stock traded up $0.17 during trading hours on Thursday, reaching $17.73. The stock had a trading volume of 843,053 shares, compared to its average volume of 3,179,386. The stock has a market capitalization of $1.74 billion, a PE ratio of 253.68, a price-to-earnings-growth ratio of 3.77 and a beta of 0.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.21 and a quick ratio of 0.25. The stock has a 50-day simple moving average of $15.94 and a 200 day simple moving average of $14.50. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $21.67.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The firm had revenue of $1.18 billion during 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 company's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. Analysts predict 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.