Invesco Ltd. Raises Stock Position 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% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 992,675 shares of the company's stock after purchasing an additional 158,302 shares during the quarter. Invesco Ltd. owned about 1.01% of Grocery Outlet worth $13,878,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Simcoe Capital Management LLC purchased a new position in Grocery Outlet in the fourth quarter valued at about $53,185,000. Junto Capital Management LP purchased a new position in shares of Grocery Outlet in the fourth quarter worth about $39,128,000. Freestone Grove Partners LP purchased a new position in shares of Grocery Outlet in the fourth quarter worth about $13,602,000. FPR Partners LLC increased its stake in shares of Grocery Outlet by 15.2% in the fourth quarter. FPR Partners LLC now owns 5,991,474 shares of the company's stock worth $93,527,000 after purchasing an additional 791,474 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Grocery Outlet by 5.8% in the first quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company's stock worth $149,830,000 after purchasing an additional 582,822 shares in the last quarter. 99.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related 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 directly 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 SEC, which is accessible through this link. Insiders own 4.50% of the company's stock.

Analyst Upgrades and Downgrades

GO has been the subject of several recent analyst reports. Telsey Advisory Group reaffirmed a "market perform" rating and set a $16.00 price objective on shares of Grocery Outlet in a research note on Wednesday, August 6th. Wells Fargo & Company boosted 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. UBS Group boosted 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. Morgan Stanley raised shares of 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. Finally, 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 note 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 company's stock. According to data from MarketBeat, Grocery Outlet has a consensus rating of "Hold" and a consensus target price of $16.08.

Grocery Outlet Stock Performance

GO traded up $0.04 during trading on Tuesday, hitting $18.63. The company's stock had a trading volume of 2,659,789 shares, compared to its average volume of 3,236,273. 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 Holding Corp. has a one year low of $10.26 and a one year high of $21.67. The firm has a market cap of $1.83 billion, a PE ratio of 266.18, a P/E/G ratio of 4.07 and a beta of 0.27. The business's 50 day simple moving average is $14.72 and its 200-day simple moving average is $14.34.

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 business had revenue of $1.18 billion for 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 quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $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 predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal 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.