30,529 Shares in Grocery Outlet Holding Corp. $GO Acquired by Versor Investments LP

Key Points

• Versor Investments LP has invested approximately $427,000 in Grocery Outlet Holding Corp., acquiring 30,529 shares of the company's stock in Q1 2023.
• Grocery Outlet reported $1.18 billion in revenue for the last quarter, with earnings per share of $0.23, surpassing the consensus estimate of $0.17.
• Hedge funds and other institutional investors own 99.87% of Grocery Outlet's stock, indicating strong institutional interest in the company.

Versor Investments LP purchased a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,529 shares of the company's stock, valued at approximately $427,000.

A number of other institutional investors have also bought and sold shares of the company. Simcoe Capital Management LLC acquired a new position in shares of Grocery Outlet during the fourth quarter valued at about $53,185,000. Junto Capital Management LP acquired a new stake in shares of Grocery Outlet in the 4th quarter worth about $39,128,000. Freestone Grove Partners LP acquired a new stake in shares of Grocery Outlet in the 4th quarter worth about $13,602,000. FPR Partners LLC increased its stake in Grocery Outlet by 15.2% in the 4th quarter. FPR Partners LLC now owns 5,991,474 shares of the company's stock valued at $93,527,000 after buying an additional 791,474 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Grocery Outlet by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company's stock valued at $149,830,000 after buying an additional 582,822 shares during the last quarter. Institutional investors own 99.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GO shares. Morgan Stanley upgraded shares of Grocery Outlet from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $13.00 to $16.00 in a research note on Wednesday, August 6th. UBS Group increased 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. Telsey Advisory Group reiterated a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a research note on Wednesday, August 6th. Wells Fargo & Company increased 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. Finally, Craig Hallum upgraded 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 given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $16.08.

Insider Buying and Selling

In related news, EVP Steven K. Wilson sold 20,000 shares of the firm'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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.50% of the company's stock.

Grocery Outlet Stock Performance

Shares of Grocery Outlet stock traded up $0.04 on Tuesday, reaching $18.63. 2,659,789 shares of the company traded hands, compared to its average volume of 4,159,555. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $21.67. The company has a 50 day moving average of $14.83 and a 200 day moving average of $14.37. The firm has a market capitalization of $1.83 billion, a PE ratio of 266.18, a PEG ratio of 4.06 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 released its earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.20 billion. During the same period in the prior year, the firm earned $0.25 EPS. The company's 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 forecast that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current 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.