State of New Jersey Common Pension Fund D Sells 20,407 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

State of New Jersey Common Pension Fund D cut its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 19.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,828 shares of the company’s stock after selling 20,407 shares during the period. State of New Jersey Common Pension Fund D owned about 0.09% of Grocery Outlet worth $1,921,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in GO. Capital Research Global Investors boosted its stake in shares of Grocery Outlet by 2.2% during the fourth quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock valued at $251,871,000 after purchasing an additional 199,926 shares in the last quarter. Vanguard Group Inc. boosted its position in Grocery Outlet by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock valued at $268,628,000 after acquiring an additional 60,830 shares in the last quarter. 12 West Capital Management LP boosted its position in Grocery Outlet by 383.3% during the 1st quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock valued at $104,328,000 after acquiring an additional 2,875,000 shares in the last quarter. Capital World Investors increased its holdings in shares of Grocery Outlet by 281.4% in the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after acquiring an additional 2,641,016 shares during the period. Finally, Van Berkom & Associates Inc. raised its position in shares of Grocery Outlet by 21.1% in the 2nd quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company’s stock worth $77,388,000 after acquiring an additional 609,871 shares in the last quarter. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GO has been the subject of several recent analyst reports. Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. UBS Group decreased their price objective on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company initiated coverage on Grocery Outlet in a research report on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price objective for the company. Roth Mkm reduced their target price 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. Finally, Telsey Advisory Group decreased their price target on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.75.

Insider Activity at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the sale, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 300,000 shares of company stock valued at $5,617,000. 4.50% of the stock is owned by company insiders.

Grocery Outlet Trading Down 2.0 %

Shares of NASDAQ:GO opened at $15.97 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. Grocery Outlet Holding Corp. has a 12-month low of $15.72 and a 12-month high of $29.98. The business has a 50 day moving average of $18.69 and a two-hundred day moving average of $22.25. The company has a market capitalization of $1.59 billion, a PE ratio of 24.95, a PEG ratio of 3.16 and a beta of 0.10.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company earned $0.23 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts forecast that Grocery Outlet Holding Corp. will post 0.68 EPS for the current year.

Grocery Outlet Company 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.