Intech Investment Management LLC Makes New $3.84 Million Investment in Grocery Outlet Holding Corp. $GO

Intech Investment Management LLC bought a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 308,814 shares of the company’s stock, valued at approximately $3,835,000. Intech Investment Management LLC owned approximately 0.31% of Grocery Outlet as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in shares of Grocery Outlet by 32.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock worth $37,000 after buying an additional 719 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Grocery Outlet by 5.1% in the second quarter. Bank of Montreal Can now owns 16,525 shares of the company’s stock worth $205,000 after acquiring an additional 803 shares during the last quarter. US Bancorp DE boosted its stake in shares of Grocery Outlet by 64.2% in 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 in the last quarter. Parallel Advisors LLC grew its holdings in shares of Grocery Outlet by 213.5% during the 2nd quarter. Parallel Advisors LLC now owns 2,025 shares of the company’s stock valued at $25,000 after purchasing an additional 1,379 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Grocery Outlet by 8.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,170 shares of the company’s stock valued at $313,000 after purchasing an additional 1,925 shares during the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Stock Performance

NASDAQ GO opened at $10.94 on Wednesday. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -218.80, a PEG ratio of 1.78 and a beta of 0.33. The company has a quick ratio of 0.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.40. Grocery Outlet Holding Corp. has a twelve month low of $10.26 and a twelve month high of $21.67. The stock has a fifty day simple moving average of $14.87 and a 200 day simple moving average of $14.87.

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

Insider Buying and Selling

In other Grocery Outlet news, EVP Steven K. Wilson sold 25,000 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $12.53, for a total transaction of $313,250.00. Following the completion of the sale, the executive vice president owned 116,923 shares of the company’s stock, valued at approximately $1,465,045.19. This represents a 17.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Telsey Advisory Group lowered shares of Grocery Outlet from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. Bank of America cut their price objective on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. DA Davidson reduced their price objective on Grocery Outlet from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. TD Cowen lowered their target price on Grocery Outlet from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. Finally, Morgan Stanley raised Grocery Outlet from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $13.00 to $16.00 in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.73.

Grocery Outlet 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.