Allspring Global Investments Holdings LLC lowered its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO – Free Report) by 5.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,903 shares of the company’s stock after selling 9,239 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.17% of Grocery Outlet worth $5,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in GO. FMR LLC boosted its holdings in Grocery Outlet by 1,174.6% in the first quarter. FMR LLC now owns 1,752,538 shares of the company’s stock worth $49,527,000 after acquiring an additional 1,615,038 shares in the last quarter. Providence Capital Advisors LLC boosted its holdings in Grocery Outlet by 2,764.6% in the first quarter. Providence Capital Advisors LLC now owns 4,424,174 shares of the company’s stock worth $156,552,000 after acquiring an additional 4,269,730 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Grocery Outlet by 10.3% during the first quarter. Sei Investments Co. now owns 1,166,794 shares of the company’s stock worth $32,974,000 after purchasing an additional 108,866 shares during the period. ExodusPoint Capital Management LP lifted its holdings in shares of Grocery Outlet by 893.8% during the first quarter. ExodusPoint Capital Management LP now owns 140,793 shares of the company’s stock worth $3,979,000 after purchasing an additional 126,626 shares during the period. Finally, Private Wealth Partners LLC acquired a new stake in shares of Grocery Outlet during the first quarter worth about $249,000.
Analyst Upgrades and Downgrades
GO has been the subject of a number of research reports. UBS Group lifted their target price on Grocery Outlet from $29.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. The Goldman Sachs Group decreased their target price on Grocery Outlet from $38.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, October 10th. Credit Suisse Group lifted their target price on Grocery Outlet from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. Telsey Advisory Group reiterated an “outperform” rating and set a $40.00 price target on shares of Grocery Outlet in a research report on Friday, September 15th. Finally, Roth Mkm lifted their price target on Grocery Outlet from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $35.00.
Grocery Outlet Stock Down 0.2 %
Grocery Outlet stock opened at $28.36 on Friday. The stock has a market capitalization of $2.80 billion, a PE ratio of 39.94, a price-to-earnings-growth ratio of 2.70 and a beta of 0.08. Grocery Outlet Holding Corp. has a 12 month low of $25.71 and a 12 month high of $36.54. The business has a 50 day simple moving average of $28.76 and a 200-day simple moving average of $30.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.37 and a quick ratio of 0.37.
Grocery Outlet (NASDAQ:GO – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $974.89 million. Grocery Outlet had a return on equity of 7.28% and a net margin of 1.87%. On average, analysts anticipate that Grocery Outlet Holding Corp. will post 0.84 EPS for the current fiscal year.
Insider Transactions at Grocery Outlet
In other news, Director Eric J. Jr. Lindberg sold 255,951 shares of Grocery Outlet stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $34.35, for a total value of $8,791,916.85. Following the sale, the director now directly owns 37,616 shares of the company’s stock, valued at $1,292,109.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $33.91, for a total value of $67,820.00. Following the sale, the director now directly owns 21,400 shares of the company’s stock, valued at $725,674. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 255,951 shares of Grocery Outlet stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $34.35, for a total value of $8,791,916.85. Following the completion of the sale, the director now directly owns 37,616 shares in the company, valued at $1,292,109.60. The disclosure for this sale can be found here. Insiders have sold 267,748 shares of company stock valued at $9,178,152 over the last ninety days. Insiders own 6.20% of the company’s stock.
About Grocery Outlet
Grocery Outlet Holding Corp. engages in ownership and operation of a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.
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