Choreo LLC Buys Shares of 11,715 Grocery Outlet Holding Corp. (NASDAQ:GO)

Choreo LLC purchased a new position in Grocery Outlet Holding Corp. (NASDAQ:GO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,715 shares of the company’s stock, valued at approximately $258,000.

Several other hedge funds also recently made changes to their positions in GO. Capital Research Global Investors lifted its stake in Grocery Outlet by 2.2% in the 4th quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock worth $251,871,000 after purchasing an additional 199,926 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Grocery Outlet by 0.7% in the first quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock worth $268,628,000 after purchasing an additional 60,830 shares during the period. 12 West Capital Management LP raised its position in shares of Grocery Outlet by 383.3% in the first quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock worth $104,328,000 after buying an additional 2,875,000 shares in the last quarter. Capital World Investors boosted its stake in Grocery Outlet by 281.4% during the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after buying an additional 2,641,016 shares during the period. Finally, Clearbridge Investments LLC grew its position in Grocery Outlet by 16.1% during the fourth quarter. Clearbridge Investments LLC now owns 2,940,288 shares of the company’s stock worth $79,270,000 after buying an additional 406,824 shares in the last quarter. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Grocery Outlet Stock Performance

NASDAQ GO opened at $16.47 on Thursday. The company has a 50-day simple moving average of $18.90 and a two-hundred day simple moving average of $22.40. Grocery Outlet Holding Corp. has a 12-month low of $16.06 and a 12-month high of $29.98. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.16 and a beta of 0.10. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. Grocery Outlet’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. On average, equities analysts forecast that Grocery Outlet Holding Corp. will post 0.68 EPS for the current year.

Insider Transactions at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $18.44, for a total transaction of $1,844,000.00. Following the completion of the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at $1,308,096.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 300,000 shares of company stock worth $5,617,000. Insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group dropped their price target on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Telsey Advisory Group dropped their target price on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company assumed coverage on shares of Grocery Outlet in a research report on Thursday, July 18th. They issued an “overweight” rating and a $28.00 target price for the company. Finally, Roth Mkm lowered their price target on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Grocery Outlet currently has a consensus rating of “Hold” and a consensus price target of $22.75.

Grocery Outlet Profile

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.