Corient Private Wealth LLC Acquires New Holdings in Grocery Outlet Holding Corp. $GO

Corient Private Wealth LLC bought a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 164,061 shares of the company’s stock, valued at approximately $2,038,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC lifted its holdings in shares of Grocery Outlet by 213.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,025 shares of the company’s stock worth $25,000 after acquiring an additional 1,379 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Grocery Outlet by 32.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock valued at $37,000 after purchasing an additional 719 shares during the period. AlphaQuest LLC lifted its stake in Grocery Outlet by 327.7% during the second quarter. AlphaQuest LLC now owns 5,761 shares of the company’s stock worth $72,000 after purchasing an additional 4,414 shares in the last quarter. Quarry LP purchased a new position in shares of Grocery Outlet during the first quarter worth $111,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Grocery Outlet in the second quarter valued at $120,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Trading Up 1.5%

NASDAQ GO opened at $10.20 on Wednesday. Grocery Outlet Holding Corp. has a 52 week low of $9.74 and a 52 week high of $19.41. The firm has a 50 day moving average of $12.14 and a two-hundred day moving average of $14.28. The company has a quick ratio of 0.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.00 billion, a PE ratio of -204.00, a price-to-earnings-growth ratio of 1.60 and a beta of 0.47.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Grocery Outlet in a report on Wednesday, October 8th. TD Cowen cut their price target on shares of Grocery Outlet from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. DA Davidson reissued a “neutral” rating and set a $15.00 price target on shares of Grocery Outlet in a research report on Thursday, December 4th. Morgan Stanley lowered their price objective on shares of Grocery Outlet from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, December 4th. Finally, Bank of America cut their target price on shares of Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Grocery Outlet presently has an average rating of “Hold” and a consensus target price of $14.86.

Insider Activity

In other news, EVP Steven K. Wilson sold 25,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $12.53, for a total transaction of $313,250.00. Following the completion of the transaction, the executive vice president directly owned 116,923 shares of the company’s stock, valued at approximately $1,465,045.19. This represents a 17.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.50% of the company’s stock.

About Grocery Outlet

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.