Public Sector Pension Investment Board Raises Stake in Grocery Outlet Holding Corp. $GO

Public Sector Pension Investment Board increased its stake in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 27.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 308,088 shares of the company's stock after buying an additional 66,076 shares during the quarter. Public Sector Pension Investment Board owned 0.31% of Grocery Outlet worth $4,307,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings in shares of Grocery Outlet by 53.9% in the 4th quarter. Sterling Capital Management LLC now owns 5,808 shares of the company's stock worth $91,000 after buying an additional 2,034 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Grocery Outlet by 11.1% in the 4th quarter. Invesco Ltd. now owns 834,373 shares of the company's stock worth $13,025,000 after buying an additional 83,043 shares during the last quarter. 111 Capital purchased a new position in shares of Grocery Outlet in the 4th quarter worth about $207,000. D.A. Davidson & CO. purchased a new position in shares of Grocery Outlet in the 1st quarter worth about $165,000. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Grocery Outlet in the 1st quarter worth about $881,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GO has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on shares of Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Telsey Advisory Group restated a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a research note on Wednesday, August 6th. Morgan Stanley upgraded 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. Craig Hallum upgraded Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 price objective on the stock in a research note on Wednesday, August 6th. Finally, UBS Group boosted their price objective on Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $16.08.

Grocery Outlet Price Performance

Shares of GO traded up $0.5650 during midday trading on Friday, hitting $18.6250. 571,896 shares of the company traded hands, compared to its average volume of 3,237,254. The stock has a 50-day moving average of $14.51 and a 200-day moving average of $14.36. 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 P/E ratio of 266.61, a PEG ratio of 4.11 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 (NASDAQ:GO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, beating 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 return on equity of 6.34% and a net margin of 0.18%.The company's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business 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 predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

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

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.