Paul Miller, serving as the Executive Vice President and Chief Purchasing & Merchandising Officer at Grocery Outlet Holding Corp. (NASDAQ: GO), has taken action to increase his direct equity position in the company. On June 18, 2026, Miller executed a purchase of 10,000 shares of common stock. The total value of this transaction reached $93,699. The acquisition price for these shares ranged between $9.36 and $9.37 per share.
Following this acquisition, Miller's direct ownership stake stands at 59,171 shares of Grocery Outlet common stock. This insider activity comes as the stock has shown recovery from its 52-week low of $5.66. However, the current trading price remains significantly below its 52-week high of $19.41. According to InvestingPro analysis, the company appears undervalued at its current market levels.
InvestingPro Tips highlight a notable shift in analyst expectations. Analysts predict the company will be profitable this year, a significant change from its negative earnings of -$3.89 per share over the last twelve months. This projection contrasts with recent financial performance data.
In other recent developments, Grocery Outlet Holding Corp reported its Q1 2026 earnings, surpassing market expectations. The company reported earnings per share of $0.05, beating the forecast of $0.03. Revenue also exceeded expectations, coming in at $1.17 billion, slightly above the anticipated $1.15 billion.
Following these results, DA Davidson, TD Cowen, and Jefferies have all raised their price targets for Grocery Outlet. DA Davidson increased its target to $9.00 from $7.00, maintaining a Neutral rating. TD Cowen raised its target to $8.00 from $6.00, maintaining a Hold rating. Jefferies also raised its target to $9.00 from $7.00, citing early signs of stabilization.
Additionally, Grocery Outlet announced leadership changes with Paul Miller appointed as Executive Vice President and Chief Purchasing and Merchandising Officer, and Ian Ferry promoted to Executive Vice President and Chief Financial Officer. These developments reflect ongoing strategic adjustments and market reactions.