Russell Investments Group Ltd. lessened its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) by 34.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 149,151 shares of the company’s stock after selling 78,803 shares during the period. Russell Investments Group Ltd. owned 0.15% of Grocery Outlet worth $4,354,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. grew its stake in Grocery Outlet by 79.7% during the 3rd quarter. Alliancebernstein L.P. now owns 4,828,475 shares of the company’s stock valued at $160,740,000 after acquiring an additional 2,142,190 shares in the last quarter. BlackRock Inc. grew its stake in Grocery Outlet by 7.7% during the 1st quarter. BlackRock Inc. now owns 8,852,693 shares of the company’s stock valued at $290,192,000 after acquiring an additional 631,964 shares in the last quarter. First Trust Advisors LP grew its stake in Grocery Outlet by 305.8% during the 3rd quarter. First Trust Advisors LP now owns 814,298 shares of the company’s stock valued at $27,107,000 after acquiring an additional 613,641 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Grocery Outlet by 51.8% in the 3rd quarter. Marshall Wace LLP now owns 1,484,022 shares of the company’s stock valued at $49,401,000 after buying an additional 506,154 shares during the period. Finally, Capital Research Global Investors grew its stake in shares of Grocery Outlet by 6.7% in the 1st quarter. Capital Research Global Investors now owns 7,339,446 shares of the company’s stock valued at $240,587,000 after buying an additional 463,415 shares during the period. Institutional investors and hedge funds own 97.42% of the company’s stock.
Grocery Outlet Price Performance
Grocery Outlet stock opened at $30.52 on Thursday. The firm has a market cap of $3.00 billion, a PE ratio of 45.55, a price-to-earnings-growth ratio of 3.74 and a beta of -0.01. Grocery Outlet Holding Corp. has a 52-week low of $25.71 and a 52-week high of $46.37. The company has a quick ratio of 0.37, a current ratio of 1.42 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $28.67 and its two-hundred day moving average is $29.43.
Analyst Ratings Changes
GO has been the subject of several analyst reports. Credit Suisse Group reissued a “neutral” rating and issued a $30.00 price target on shares of Grocery Outlet in a research note on Wednesday, March 1st. Roth Capital reissued a “neutral” rating on shares of Grocery Outlet in a research note on Thursday, March 2nd. TheStreet cut shares of Grocery Outlet from a “b-” rating to a “c+” rating in a research note on Wednesday, February 1st. Craig Hallum cut shares of Grocery Outlet from a “buy” rating to a “hold” rating in a research note on Wednesday, March 1st. Finally, The Goldman Sachs Group decreased their price objective on shares of Grocery Outlet from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, March 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Grocery Outlet has a consensus rating of “Hold” and a consensus price target of $39.00.
Insiders Place Their Bets
In other news, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $30.35, for a total value of $60,700.00. Following the sale, the director now directly owns 27,400 shares in the company, valued at approximately $831,590. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Eric J. Jr. Lindberg sold 202,693 shares of the stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $30.21, for a total value of $6,123,355.53. Following the transaction, the director now directly owns 111,631 shares of the company’s stock, valued at approximately $3,372,372.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas F. Herman sold 2,000 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $30.35, for a total transaction of $60,700.00. Following the completion of the transaction, the director now directly owns 27,400 shares in the company, valued at $831,590. The disclosure for this sale can be found here. Insiders have sold a total of 334,281 shares of company stock worth $9,723,215 in the last ninety days. 11.20% of the stock is owned by corporate insiders.
Grocery Outlet Profile
Grocery Outlet Holding Corp. engages in the operation of retail stores in the United States. It offers name-brand consumables and fresh products through a network of independently operated stores. The company was founded by Jim Read in 1946 and is headquartered in Emeryville, CA.
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