Cascade Investment Advisors Inc. Invests $784,000 in Grocery Outlet Holding Corp. $GO

Cascade Investment Advisors Inc. purchased a new position in Grocery Outlet Holding Corp. (NASDAQ:GO) in the second quarter, Holdings Channel.com reports. The firm purchased 63,100 shares of the company’s stock, valued at approximately $784,000.

A number of other large investors have also recently made changes to their positions in the stock. CWM LLC grew its stake in shares of Grocery Outlet by 883.6% in the second quarter. CWM LLC now owns 14,872 shares of the company’s stock worth $185,000 after acquiring an additional 13,360 shares during the period. Inspire Investing LLC grew its stake in shares of Grocery Outlet by 27.5% in the second quarter. Inspire Investing LLC now owns 31,440 shares of the company’s stock worth $390,000 after acquiring an additional 6,788 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Grocery Outlet in the second quarter worth approximately $361,000. State of Alaska Department of Revenue grew its stake in shares of Grocery Outlet by 8.4% in the second quarter. State of Alaska Department of Revenue now owns 58,360 shares of the company’s stock worth $724,000 after acquiring an additional 4,538 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Grocery Outlet by 92.0% in the second quarter. GAMMA Investing LLC now owns 9,959 shares of the company’s stock worth $124,000 after acquiring an additional 4,771 shares during the period. 99.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Telsey Advisory Group upgraded shares of 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 note on Wednesday, October 1st. Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Wednesday, August 6th. Morgan Stanley raised shares of Grocery Outlet from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $13.00 to $16.00 in a report on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grocery Outlet in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Grocery Outlet currently has an average rating of “Hold” and a consensus target price of $16.33.

Grocery Outlet Price Performance

GO stock opened at $15.39 on Monday. Grocery Outlet Holding Corp. has a one year low of $10.26 and a one year high of $21.67. The company’s fifty day moving average price is $17.16 and its 200-day moving average price is $15.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.25 and a current ratio of 1.21. The company has a market capitalization of $1.51 billion, a PE ratio of 219.89, a price-to-earnings-growth ratio of 3.25 and a beta of 0.29.

Grocery Outlet (NASDAQ:GO) last released its 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 firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The company’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. On average, equities analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Transactions at Grocery Outlet

In related news, EVP Steven K. Wilson sold 5,000 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $18.24, for a total transaction of $91,200.00. Following the sale, the executive vice president owned 141,923 shares of the company’s stock, valued at $2,588,675.52. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is currently owned by insiders.

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.