12 Best Grocery Store Stocks to Buy Now

Page 5 of 11

7. Grocery Outlet Holding Corp. (NASDAQ:GO)

Number of Hedge Fund Holders: 33

Grocery Outlet Holding Corp. (NASDAQ:GO) is a retailer that sells fresh food products and name-brand consumables through an elaborate network of independently operated stores. Its product offerings include fresh meat and seafood, staples, refrigerated and frozen food, staples, and other items.

While Grocery Outlet Holding Corp. (NASDAQ:GO) reported positive results, it is experiencing challenges brought about by system conversions. To combat these challenges, it is focusing on executing well on its fundamentals and has made significant progress in implementation.

It reported a 10.4% net sales growth in fiscal Q3 2024, reaching $1.11 billion. Comparable store sales also grew by 1.2%, driven by a 2.0% increase in the number of transactions. Grocery Outlet Holding Corp. (NASDAQ:GO) opened 5 new stores in the quarter, ending fiscal Q3 2024 with 529 stores across 16 states. These positive results reflect the strong positioning of the company’s consumer offerings and the growth of its share of consumer non-discretionary spending. The company ranks seventh on our list.

Page 5 of 11