Grocery Outlet Holding Corp. $GO is Simcoe Capital Management LLC's 4th Largest Position

Key Points

• Simcoe Capital Management LLC reduced its holdings in Grocery Outlet by 13.7%, now owning approximately 2.94 million shares valued at about $41.08 million.
• Grocery Outlet reported a quarterly earnings per share of $0.23, surpassing analysts' expectations, while its revenue was $1.18 billion, slightly below forecasts.
• Analysts have mixed ratings on Grocery Outlet, with three recommending a Buy and nine suggesting a Hold, reflecting an average target price of $16.08.

Simcoe Capital Management LLC lessened its position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 13.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,938,735 shares of the company's stock after selling 468,390 shares during the period. Grocery Outlet comprises about 7.4% of Simcoe Capital Management LLC's portfolio, making the stock its 4th largest holding. Simcoe Capital Management LLC owned 3.00% of Grocery Outlet worth $41,084,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. US Bancorp DE grew its stake in 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 buying an additional 1,182 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in Grocery Outlet by 9.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 15,671 shares of the company's stock valued at $245,000 after buying an additional 1,377 shares in the last quarter. Red Spruce Capital LLC grew its position in Grocery Outlet by 1.6% in the first quarter. Red Spruce Capital LLC now owns 132,968 shares of the company's stock valued at $1,859,000 after acquiring an additional 2,044 shares during the last quarter. Rafferty Asset Management LLC grew its position in Grocery Outlet by 14.3% in the first quarter. Rafferty Asset Management LLC now owns 25,165 shares of the company's stock valued at $352,000 after acquiring an additional 3,158 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in 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 acquiring an additional 3,644 shares in the last quarter. Institutional investors own 99.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GO. UBS Group raised 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. Wells Fargo & Company boosted their target price 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. Craig Hallum upgraded 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. Telsey Advisory Group reiterated a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a report on Wednesday, August 6th. Finally, Morgan Stanley raised Grocery Outlet from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $13.00 to $16.00 in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.08.

Grocery Outlet Stock Up 3.0%

NASDAQ GO traded up $0.55 during mid-day trading on Tuesday, hitting $18.66. The company's stock had a trading volume of 2,026,743 shares, compared to its average volume of 3,221,919. The company has a current ratio of 1.21, a quick ratio of 0.25 and a debt-to-equity ratio of 0.38. The company's 50 day simple moving average is $15.22 and its 200 day simple moving average is $14.38. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 266.61, a PEG ratio of 3.96 and a beta of 0.32. Grocery Outlet Holding Corp. has a twelve month low of $10.26 and a twelve month high of $21.67.

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 analysts' consensus estimates of $0.17 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. Analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Insider Transactions at Grocery Outlet

In related news, EVP Steven K. Wilson sold 5,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $18.24, for a total value of $91,200.00. Following the sale, the executive vice president owned 141,923 shares of the company's stock, valued at approximately $2,588,675.52. The trade was a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.50% of the company's stock.

About Grocery Outlet

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.