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Andrea Renee Bortner, Executive Vice President and Chief Human Resources Officer at Grocery Outlet Holding Corp. (NASDAQ:GO), recently sold shares of the company’s common stock. According to a filing with the Securities and Exchange Commission, Bortner sold a total of 8,597 shares on March 10, 2025. The shares were sold at prices ranging from $13.14 to $13.16, amounting to a total transaction value of $113,074. The transaction occurred as the stock trades near InvestingPro’s Fair Value estimate, with the shares down over 50% in the past year.
Following these transactions, Bortner holds 29,037 shares directly. Additionally, she has an indirect holding of 31,167 shares through the Bortner Family Trust, where she serves as a trustee. The sale of 5,506 shares was specifically conducted to satisfy tax withholding obligations upon the vesting of performance stock units previously granted to her. According to InvestingPro data, analyst targets for the stock range from $10 to $18, with 13 analysts recently revising their earnings expectations downward. Unlock comprehensive insider trading analysis and 8 additional ProTips with an InvestingPro subscription.
In other recent news, Grocery Outlet Holding Corp reported its fourth-quarter 2024 earnings, revealing that earnings per share (EPS) were $0.15, falling short of the expected $0.17. Despite this miss, the company exceeded revenue forecasts, achieving $1.1 billion against a projected $1.09 billion. Analysts from Craig-Hallum, Telsey Advisory Group, and DA Davidson have responded by lowering their price targets for the company. Craig-Hallum set a new target of $13.50, Telsey adjusted theirs to $16.00, and DA Davidson revised theirs to $15.00, all maintaining neutral or hold ratings on the stock.
The company’s comparable store sales increased by 2.9%, surpassing analyst expectations, but profitability was hampered by system integration issues and higher-than-anticipated shrinkage. These challenges are part of a broader restructuring plan that includes store closures and workforce reductions, which are expected to affect short-term profitability. Grocery Outlet’s management has indicated that these strategic initiatives aim to optimize unit growth and improve long-term returns.
Looking ahead, the company anticipates full-year 2025 comparable store sales growth between 2-3%, with total net sales projected to be between $4.7 billion and $4.8 billion. The company is also working to resolve ongoing system issues, which have been a significant factor in recent operational challenges. Analysts have noted that while Grocery Outlet’s top-line performance remains strong, the focus on addressing these operational inefficiencies will likely influence the company’s financial outlook in the near term.
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