Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Purchased by IFP Advisors Inc

Posted by on May 18th, 2023

IFP Advisors Inc raised its position in Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) by 123.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,599 shares of the company’s stock after purchasing an additional 883 shares during the quarter. IFP Advisors Inc’s holdings in Grocery Outlet were worth $45,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Captrust Financial Advisors boosted its stake in Grocery Outlet by 58.1% during the second quarter. Captrust Financial Advisors now owns 762 shares of the company’s stock worth $32,000 after buying an additional 280 shares during the period. James Investment Research Inc. boosted its position in shares of Grocery Outlet by 230.5% during the 4th quarter. James Investment Research Inc. now owns 1,507 shares of the company’s stock worth $44,000 after purchasing an additional 1,051 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Grocery Outlet in the 1st quarter valued at approximately $118,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Grocery Outlet in the second quarter valued at approximately $216,000. Finally, Advisor Group Holdings Inc. lifted its stake in Grocery Outlet by 51.3% during the first quarter. Advisor Group Holdings Inc. now owns 5,508 shares of the company’s stock worth $192,000 after purchasing an additional 1,868 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Insider Buying and Selling

In other news, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction on Monday, May 15th. The shares were sold at an average price of $30.35, for a total value of $60,700.00. Following the transaction, the director now directly owns 27,400 shares of the company’s stock, valued at approximately $831,590. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 202,693 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $30.21, for a total transaction of $6,123,355.53. Following the completion of the transaction, the director now owns 111,631 shares in the company, valued at approximately $3,372,372.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $30.35, for a total transaction of $60,700.00. Following the completion of the sale, the director now owns 27,400 shares of the company’s stock, valued at approximately $831,590. The disclosure for this sale can be found here. Insiders have sold 334,281 shares of company stock worth $9,723,215 in the last quarter. 11.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on GO. Roth Capital reissued a “neutral” rating on shares of Grocery Outlet in a research note on Thursday, March 2nd. Morgan Stanley lowered their price objective on shares of Grocery Outlet from $26.00 to $25.00 and set an “underweight” rating for the company in a research note on Wednesday, March 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Grocery Outlet from $38.00 to $34.00 in a report on Wednesday, March 1st. TheStreet lowered shares of Grocery Outlet from a “b-” rating to a “c+” rating in a report on Wednesday, February 1st. Finally, The Goldman Sachs Group dropped their price target on shares of Grocery Outlet from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, March 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $39.00.

Grocery Outlet Stock Up 0.1 %

Grocery Outlet stock opened at $30.52 on Thursday. The stock’s fifty day moving average is $28.67 and its two-hundred day moving average is $29.43. The stock has a market cap of $3.00 billion, a PE ratio of 45.55, a P/E/G ratio of 3.74 and a beta of -0.01. Grocery Outlet Holding Corp. has a 1-year low of $25.71 and a 1-year high of $46.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.42 and a quick ratio of 0.37.

Grocery Outlet (NASDAQ:GO – Get Rating) last posted its earnings results on Tuesday, February 28th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $930.83 million during the quarter, compared to analysts’ expectations of $904.17 million. Grocery Outlet had a return on equity of 7.41% and a net margin of 1.81%. On average, sell-side analysts expect that Grocery Outlet Holding Corp. will post 0.76 EPS for the current fiscal year.

Grocery Outlet Company Profile

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Grocery Outlet Holding Corp. engages in the operation of retail stores in the United States. It offers name-brand consumables and fresh products through a network of independently operated stores. The company was founded by Jim Read in 1946 and is headquartered in Emeryville, CA.

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Institutional Ownership by Quarter for Grocery Outlet (NASDAQ:GO)

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