Invesco Ltd. Has $13.88 Million Holdings in Grocery Outlet Holding Corp. $GO

Key Points

• Invesco Ltd. increased its stake in Grocery Outlet Holding Corp. by 19.0%, acquiring an additional 158,302 shares, bringing its ownership to a total of 992,675 shares valued at approximately $13.88 million.
• Various institutional investors have made significant adjustments to their holdings, with First Trust Advisors LP growing its stake by 232.0%, amounting to 688,691 shares valued at about $10.75 million.
• Analysts have set new price targets for Grocery Outlet stock, with Wells Fargo raising its target from $18.00 to $19.00 and UBS Group increasing its target from $14.50 to $17.00, reflecting a generally favorable outlook on the company's performance.

Invesco Ltd. boosted its stake in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 19.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 992,675 shares of the company's stock after acquiring an additional 158,302 shares during the quarter. Invesco Ltd. owned 1.01% of Grocery Outlet worth $13,878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in Grocery Outlet by 64.2% in the 1st quarter. US Bancorp DE now owns 3,024 shares of the company's stock valued at $42,000 after buying an additional 1,182 shares during the last quarter. GAMMA Investing LLC increased its stake in Grocery Outlet by 236.0% in the 1st quarter. GAMMA Investing LLC now owns 5,188 shares of the company's stock valued at $73,000 after buying an additional 3,644 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Grocery Outlet by 81.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company's stock valued at $105,000 after buying an additional 3,000 shares during the last quarter. Blair William & Co. IL acquired a new stake in Grocery Outlet in the 1st quarter valued at $140,000. Finally, D.A. Davidson & CO. acquired a new stake in Grocery Outlet in the 1st quarter valued at $165,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Steven K. Wilson sold 20,000 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $19.20, for a total transaction of $384,000.00. Following the completion of the transaction, the executive vice president owned 146,923 shares of the company's stock, valued at approximately $2,820,921.60. This trade 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 accessible through the SEC website. Insiders own 4.50% of the company's stock.

Grocery Outlet Trading Down 2.3%

Shares of GO stock traded down $0.42 during trading hours on Thursday, hitting $18.08. 3,514,472 shares of the company's stock traded hands, compared to its average volume of 4,144,658. The stock's 50 day simple moving average is $15.04 and its 200 day simple moving average is $14.40. The stock has a market cap of $1.77 billion, a PE ratio of 258.32, a price-to-earnings-growth ratio of 4.04 and a beta of 0.27. Grocery Outlet Holding Corp. has a 12 month low of $10.26 and a 12 month high of $21.67. The company has a quick ratio of 0.25, a current ratio of 1.21 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 (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm 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 company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. On average, sell-side analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GO shares. UBS Group lifted their price target 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. Morgan Stanley upgraded shares of Grocery Outlet from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $13.00 to $16.00 in a research note on Wednesday, August 6th. Telsey Advisory Group reiterated a "market perform" rating and issued a $16.00 price target on shares of Grocery Outlet in a research note on Wednesday, August 6th. Craig Hallum upgraded shares of Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 price target on the stock in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Grocery Outlet has a consensus rating of "Hold" and a consensus price target of $16.08.

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.