Grocery Outlet Holding Corp. $GO Shares Acquired by Inspire Investing LLC

Inspire Investing LLC lifted its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 27.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,440 shares of the company’s stock after acquiring an additional 6,788 shares during the period. Inspire Investing LLC’s holdings in Grocery Outlet were worth $390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. US Bancorp DE increased its position in Grocery Outlet by 64.2% during the first quarter. US Bancorp DE now owns 3,024 shares of the company’s stock worth $42,000 after buying an additional 1,182 shares during the period. Parallel Advisors LLC increased its position in Grocery Outlet by 213.5% during the second quarter. Parallel Advisors LLC now owns 2,025 shares of the company’s stock worth $25,000 after buying an additional 1,379 shares during the period. Rafferty Asset Management LLC increased its position in Grocery Outlet by 14.3% during the first quarter. Rafferty Asset Management LLC now owns 25,165 shares of the company’s stock worth $352,000 after buying an additional 3,158 shares during the period. GAMMA Investing LLC increased its position in Grocery Outlet by 236.0% during the first quarter. GAMMA Investing LLC now owns 5,188 shares of the company’s stock worth $73,000 after buying an additional 3,644 shares during the period. Finally, State of Alaska Department of Revenue increased its position in Grocery Outlet by 8.4% during the second quarter. State of Alaska Department of Revenue now owns 58,360 shares of the company’s stock worth $724,000 after buying an additional 4,538 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Steven K. Wilson sold 20,000 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $19.20, for a total transaction of $384,000.00. Following the transaction, the executive vice president owned 146,923 shares of the company’s stock, valued at $2,820,921.60. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GO has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grocery Outlet in a research report on Wednesday, October 8th. Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday, August 6th. Telsey Advisory Group raised Grocery Outlet from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $16.00 to $20.00 in a research report on Wednesday, October 1st. Finally, Morgan Stanley raised Grocery Outlet from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $13.00 to $16.00 in a report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Grocery Outlet presently has an average rating of “Hold” and a consensus target price of $16.33.

Grocery Outlet Trading Up 2.3%

NASDAQ:GO opened at $15.46 on Wednesday. The firm has a market cap of $1.52 billion, a P/E ratio of 220.89, a PEG ratio of 3.19 and a beta of 0.29. The company has a current ratio of 1.21, a quick ratio of 0.25 and a debt-to-equity ratio of 0.38. The stock’s 50 day simple moving average is $17.24 and its 200-day simple moving average is $15.10. Grocery Outlet Holding Corp. has a 12-month low of $10.26 and a 12-month high of $21.67.

Grocery Outlet (NASDAQ:GO) last released its earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter 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 EPS for the current year.

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.