Lombard Odier Asset Management Europe Ltd Sells 3,044 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Lombard Odier Asset Management Europe Ltd decreased its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 10.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,108 shares of the company’s stock after selling 3,044 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Grocery Outlet were worth $600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of GO. Boulder Hill Capital Management LP acquired a new stake in shares of Grocery Outlet in the 4th quarter worth about $2,038,000. Capstone Investment Advisors LLC lifted its holdings in shares of Grocery Outlet by 161.1% in the first quarter. Capstone Investment Advisors LLC now owns 93,188 shares of the company’s stock valued at $2,682,000 after purchasing an additional 57,496 shares in the last quarter. Capital Research Global Investors boosted its position 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 buying an additional 199,926 shares during the last quarter. Capital World Investors grew its holdings in Grocery Outlet by 281.4% during the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock worth $103,023,000 after buying an additional 2,641,016 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Grocery Outlet by 261.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 57,471 shares of the company’s stock valued at $1,549,000 after buying an additional 41,592 shares during the last quarter. Institutional investors own 99.87% of the company’s stock.

Grocery Outlet Stock Performance

NASDAQ:GO opened at $16.28 on Tuesday. The company has a market capitalization of $1.63 billion, a P/E ratio of 25.44, a P/E/G ratio of 3.16 and a beta of 0.10. The business has a fifty day simple moving average of $18.60 and a two-hundred day simple moving average of $22.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29. Grocery Outlet Holding Corp. has a 1 year low of $15.72 and a 1 year high of $29.98.

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

Insider Activity at Grocery Outlet

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the transaction, the director now directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,155,580.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 500,095 shares of company stock worth $8,876,548. 4.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. 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 reduced their price objective on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company began coverage on shares of Grocery Outlet in a research report on Thursday, July 18th. They set an “overweight” rating and a $28.00 target price on the stock. Craig Hallum lowered Grocery Outlet from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $20.00 in a report on Wednesday, July 31st. Finally, Roth Mkm dropped their price target on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.11.

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.