Insider Selling: Grocery Outlet (NASDAQ:GO) EVP Sells 5,000 Shares of Stock

Key Points

• Grocery Outlet's EVP Steven Wilson sold 5,000 shares at $18.24 each, totaling $91,200, which reduced his ownership by 3.40%.
• The company's latest earnings report showed an EPS of $0.23, exceeding the consensus estimate of $0.17, with a revenue of $1.18 billion for the quarter.
• Brokerages have mixed ratings on Grocery Outlet, with analysts issuing price targets ranging from $16 to $19, reflecting a **consensus rating of "Hold."**

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) EVP Steven Wilson sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $18.24, for a total value of $91,200.00. Following the transaction, the executive vice president owned 141,923 shares in the company, valued at approximately $2,588,675.52. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Grocery Outlet Stock Up 1.6%

GO traded up $0.28 during trading on Tuesday, hitting $18.20. 2,301,882 shares of the company's stock traded hands, compared to its average volume of 4,148,139. The company's 50 day simple moving average is $14.31 and its two-hundred day simple moving average is $14.32. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 260.04, a PEG ratio of 4.00 and a beta of 0.27. The company has a current ratio of 1.21, a quick ratio of 0.25 and a debt-to-equity ratio of 0.38. Grocery Outlet Holding Corp. has a 12-month low of $10.26 and a 12-month high of $21.67.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced its quarterly 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 business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the previous year, the company earned $0.25 EPS. The business'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. Analysts predict that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GO. Telsey Advisory Group reiterated a "market perform" rating and issued a $16.00 price target on shares of Grocery Outlet in a report on Wednesday, August 6th. Wells Fargo & Company lifted their target price on Grocery Outlet from $18.00 to $19.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Morgan Stanley raised Grocery Outlet from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $13.00 to $16.00 in a research note on Wednesday, August 6th. UBS Group lifted their target price on Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Craig Hallum raised Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 price objective on the stock in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Grocery Outlet presently has a consensus rating of "Hold" and an average price target of $16.08.

Hedge Funds Weigh In On Grocery Outlet

A number of large investors have recently added to or reduced their stakes in GO. Simcoe Capital Management LLC acquired a new position in shares of Grocery Outlet during the 4th quarter valued at about $53,185,000. Wellington Management Group LLP purchased a new position in Grocery Outlet during the 1st quarter worth approximately $43,509,000. T. Rowe Price Investment Management Inc. lifted its position in Grocery Outlet by 1,577.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,262,956 shares of the company's stock worth $45,617,000 after acquiring an additional 3,068,405 shares during the period. Junto Capital Management LP purchased a new position in shares of Grocery Outlet during the 4th quarter worth approximately $39,128,000. Finally, Solas Capital Management LLC purchased a new position in shares of Grocery Outlet during the 1st quarter worth approximately $13,736,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.