Granite Investment Partners LLC Sells 165,902 Shares of Grocery Outlet Holding Corp. $GO

Granite Investment Partners LLC lowered its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 18.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 755,348 shares of the company’s stock after selling 165,902 shares during the period. Granite Investment Partners LLC’s holdings in Grocery Outlet were worth $9,381,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rip Road Capital Partners LP grew its holdings in shares of Grocery Outlet by 33.9% during the first quarter. Rip Road Capital Partners LP now owns 707,900 shares of the company’s stock valued at $9,896,000 after buying an additional 179,300 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Grocery Outlet during the second quarter valued at approximately $3,835,000. Inspire Investing LLC bought a new stake in shares of Grocery Outlet during the 1st quarter worth $345,000. Eisler Capital Management Ltd. boosted its stake in Grocery Outlet by 178.5% in the second quarter. Eisler Capital Management Ltd. now owns 227,101 shares of the company’s stock valued at $2,821,000 after acquiring an additional 145,554 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Grocery Outlet by 113.3% in the second quarter. TD Asset Management Inc now owns 168,452 shares of the company’s stock valued at $2,092,000 after purchasing an additional 89,478 shares during the last quarter. 99.87% of the stock is owned by institutional investors.

Grocery Outlet Stock Performance

Shares of GO opened at $11.23 on Tuesday. Grocery Outlet Holding Corp. has a 12 month low of $10.21 and a 12 month high of $20.88. The business’s fifty day simple moving average is $13.75 and its two-hundred day simple moving average is $14.62. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -224.60, a P/E/G ratio of 1.76 and a beta of 0.47. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.40.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, November 4th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Grocery Outlet had a negative net margin of 0.10% and a positive return on equity of 5.86%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the business earned $0.28 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. Research analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Insider Transactions at Grocery Outlet

In other news, EVP Steven K. Wilson sold 25,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $12.53, for a total value of $313,250.00. Following the transaction, the executive vice president owned 116,923 shares of the company’s stock, valued at approximately $1,465,045.19. The trade was a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GO. UBS Group cut their price target on Grocery Outlet from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Morgan Stanley raised shares of Grocery Outlet from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $13.00 to $16.00 in a research note on Wednesday, August 6th. Telsey Advisory Group lowered Grocery Outlet from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. Bank of America cut their price objective on shares of Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Finally, Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Grocery Outlet has a consensus rating of “Hold” and a consensus target price of $15.73.

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.