Grocery Outlet Holding Corp. (NASDAQ:GO – Get Free Report)’s stock price gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $9.36, but opened at $9.67. Grocery Outlet shares last traded at $9.3960, with a volume of 336,541 shares trading hands.
Specifically, insider Paul Blaine Miller acquired 10,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were purchased at an average cost of $9.37 per share, with a total value of $93,700.00. Following the completion of the acquisition, the insider directly owned 59,171 shares of the company’s stock, valued at $554,432.27. This represents a 20.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised their target price on Grocery Outlet from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 14th. DA Davidson increased their price objective on Grocery Outlet from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Morgan Stanley reduced their price objective on Grocery Outlet from $11.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, March 5th. Weiss Ratings raised Grocery Outlet from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, June 5th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $7.00 target price (down from $18.00) on shares of Grocery Outlet in a research report on Thursday, March 5th. Eleven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $10.32.
Grocery Outlet Stock Up 0.7%
The company has a quick ratio of 0.27, a current ratio of 1.28 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $932.82 million, a price-to-earnings ratio of -2.43, a P/E/G ratio of 14.33 and a beta of 0.67. The business’s 50-day moving average is $8.21 and its 200-day moving average is $8.75.
Grocery Outlet (NASDAQ:GO – Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. Grocery Outlet had a positive return on equity of 5.69% and a negative net margin of 8.08%.The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. Grocery Outlet has set its FY 2026 guidance at 0.450-0.550 EPS. As a group, equities analysts predict that Grocery Outlet Holding Corp. will post 0.38 earnings per share for the current year.
Institutional Trading of Grocery Outlet
Several hedge funds and other institutional investors have recently bought and sold shares of GO. Thrivent Financial for Lutherans raised its position in Grocery Outlet by 1.0% during the second quarter. Thrivent Financial for Lutherans now owns 72,087 shares of the company’s stock valued at $895,000 after acquiring an additional 739 shares in the last quarter. Natixis Advisors LLC boosted its position in Grocery Outlet by 5.5% in the 3rd quarter. Natixis Advisors LLC now owns 30,320 shares of the company’s stock worth $487,000 after purchasing an additional 1,591 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Grocery Outlet by 62.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,788 shares of the company’s stock worth $77,000 after purchasing an additional 1,846 shares during the period. Rafferty Asset Management LLC grew its stake in shares of Grocery Outlet by 7.4% during the 2nd quarter. Rafferty Asset Management LLC now owns 27,017 shares of the company’s stock worth $336,000 after purchasing an additional 1,852 shares during the period. Finally, Red Spruce Capital LLC increased its holdings in shares of Grocery Outlet by 1.5% during the 4th quarter. Red Spruce Capital LLC now owns 128,763 shares of the company’s stock valued at $1,301,000 after purchasing an additional 1,933 shares in the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.
Grocery Outlet Company Profile
Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.
The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.
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