Vancity Investment Management Ltd Purchases New Holdings in Grocery Outlet Holding Corp. $GO

Key Points

• Vancity Investment Management Ltd has made a new investment of approximately $995,000 in Grocery Outlet Holding Corp., acquiring 71,195 shares, marking a 0.07% ownership as of the latest SEC filing.
• Several institutional investors, including US Bancorp DE and GAMMA Investing LLC, have reportedly increased their stakes in Grocery Outlet during the first quarter, highlighting heightened interest in the stock.
• The stock has received favorable analyst upgrades, with ratings increasing to "buy" by some analysts and a consensus target price now set around $16.08.

Vancity Investment Management Ltd bought a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 71,195 shares of the company's stock, valued at approximately $995,000. Vancity Investment Management Ltd owned about 0.07% of Grocery Outlet as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE grew its holdings in shares of Grocery Outlet by 64.2% during the 1st quarter. US Bancorp DE now owns 3,024 shares of the company's stock valued at $42,000 after purchasing an additional 1,182 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Grocery Outlet by 236.0% during the 1st quarter. GAMMA Investing LLC now owns 5,188 shares of the company's stock valued at $73,000 after purchasing an additional 3,644 shares during the last quarter. Quarry LP bought a new position in shares of Grocery Outlet during the 1st quarter valued at $111,000. Blair William & Co. IL purchased a new stake in Grocery Outlet during the 1st quarter valued at $140,000. Finally, HighTower Advisors LLC purchased a new stake in Grocery Outlet during the 1st quarter valued at $153,000. Institutional investors own 99.87% of the company's stock.

Insider Transactions at Grocery Outlet

In related news, EVP Steven K. Wilson sold 20,000 shares of Grocery Outlet stock in a transaction dated 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 $2,820,921.60. This trade represents a 11.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GO shares. Craig Hallum raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 price target for the company in a research report on Wednesday, August 6th. Telsey Advisory Group reissued a "market perform" rating and set a $16.00 price target on shares of Grocery Outlet in a research report on Wednesday, August 6th. Finally, Morgan Stanley raised shares of 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 report on Wednesday, August 6th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $16.08.

Grocery Outlet Trading Down 0.2%

Shares of NASDAQ:GO traded down $0.04 on Friday, hitting $17.77. The company had a trading volume of 1,721,580 shares, compared to its average volume of 2,300,856. The firm's 50-day simple moving average is $16.14 and its two-hundred day simple moving average is $14.53. Grocery Outlet Holding Corp. has a 1 year low of $10.26 and a 1 year 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. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 253.89, a P/E/G ratio of 3.81 and a beta of 0.32.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Grocery Outlet had a net margin of 0.18% and a return on equity of 6.34%. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the company posted $0.25 EPS. The company's quarterly revenue was up 4.5% compared to the same quarter last year. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. Equities analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share 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.