Red Spruce Capital LLC Lowers Position in Grocery Outlet Holding Corp. $GO

Red Spruce Capital LLC lessened its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 3.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 128,023 shares of the company’s stock after selling 4,945 shares during the quarter. Red Spruce Capital LLC’s holdings in Grocery Outlet were worth $1,590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Rip Road Capital Partners LP lifted its position in shares of Grocery Outlet by 33.9% during the 1st quarter. Rip Road Capital Partners LP now owns 707,900 shares of the company’s stock valued at $9,896,000 after buying an additional 179,300 shares in the last quarter. D.A. Davidson & CO. purchased a new position in shares of Grocery Outlet during the 1st quarter valued at approximately $165,000. 111 Capital purchased a new position in shares of Grocery Outlet during the 4th quarter valued at approximately $207,000. Hussman Strategic Advisors Inc. purchased a new position in shares of Grocery Outlet during the 1st quarter valued at approximately $881,000. Finally, New York State Common Retirement Fund lifted its position in shares of Grocery Outlet by 49.4% during the 1st quarter. New York State Common Retirement Fund now owns 131,983 shares of the company’s stock valued at $1,845,000 after buying an additional 43,633 shares in the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Insider Activity

In other Grocery Outlet news, EVP Steven K. Wilson sold 5,000 shares of the firm’s 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 completion of the sale, the executive vice president directly owned 141,923 shares of the company’s stock, valued at $2,588,675.52. This trade represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GO shares. 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 report on Wednesday, August 6th. Telsey Advisory Group reiterated a “market perform” rating and set a $16.00 target price on shares of Grocery Outlet in a research report on Wednesday, August 6th. Finally, Morgan Stanley upgraded Grocery Outlet from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $13.00 to $16.00 in a research report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $16.08.

Grocery Outlet Stock Down 0.2%

NASDAQ GO opened at $17.77 on Monday. The business has a fifty day moving average price of $16.14 and a 200 day moving average price of $14.57. Grocery Outlet Holding Corp. has a one year low of $10.26 and a one year high of $21.67. 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 cap of $1.74 billion, a P/E ratio of 253.89, a P/E/G ratio of 3.80 and a beta of 0.32.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the company earned $0.25 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. Research analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Grocery Outlet Company 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.