Versor Investments LP Sells 17,329 Shares of Grocery Outlet Holding Corp. $GO

Versor Investments LP lessened its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 56.8% in the second quarter, HoldingsChannel.com reports. The fund owned 13,200 shares of the company’s stock after selling 17,329 shares during the period. Versor Investments LP’s holdings in Grocery Outlet were worth $164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in GO. Wellington Management Group LLP acquired a new stake in Grocery Outlet during the 1st quarter valued at $43,509,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of 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 buying an additional 3,068,405 shares during the last quarter. Solas Capital Management LLC acquired a new position in Grocery Outlet in the 1st quarter valued at about $13,736,000. Vanguard Group Inc. raised its holdings in Grocery Outlet by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company’s stock valued at $149,830,000 after acquiring an additional 582,822 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in Grocery Outlet during the first quarter worth approximately $6,621,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GO. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, August 6th. DA Davidson dropped their target price on Grocery Outlet from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley upgraded shares of Grocery Outlet from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $13.00 to $16.00 in a research note on Wednesday, August 6th. Telsey Advisory Group downgraded shares of Grocery Outlet from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Bank of America lowered their target price on shares of Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.73.

Grocery Outlet Stock Performance

Shares of Grocery Outlet stock opened at $12.15 on Friday. The firm’s 50-day moving average price is $15.82 and its two-hundred day moving average price is $15.13. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -243.00, a PEG ratio of 2.02 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 12-month low of $10.26 and a 12-month high of $21.67.

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

Insider Activity

In other news, EVP Steven K. Wilson sold 5,000 shares of Grocery Outlet stock in a transaction 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. This trade represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.50% of the company’s stock.

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.