Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. boosted its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 73.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 475,381 shares of the company’s stock after purchasing an additional 201,881 shares during the period. Point72 Asset Management L.P. owned approximately 0.48% of Grocery Outlet worth $10,515,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GO. Treasurer of the State of North Carolina grew its stake in shares of Grocery Outlet by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 42,093 shares of the company’s stock worth $1,135,000 after purchasing an additional 410 shares during the period. Blueshift Asset Management LLC acquired a new stake in Grocery Outlet during the fourth quarter valued at $330,000. Capital Research Global Investors increased its holdings in Grocery Outlet by 2.2% in 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 in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Grocery Outlet by 261.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 57,471 shares of the company’s stock worth $1,549,000 after acquiring an additional 41,592 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in shares of Grocery Outlet during the 4th quarter worth about $16,049,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Roth Mkm reduced their target price on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Melius Research began coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They set a “hold” rating and a $17.00 price objective for the company. Wells Fargo & Company started 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 on the stock. Craig Hallum downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price target for the stock from $32.00 to $20.00 in a research report on Wednesday, July 31st. Finally, Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Grocery Outlet presently has a consensus rating of “Hold” and a consensus target price of $22.11.

Grocery Outlet Trading Down 0.7 %

Shares of GO stock opened at $17.55 on Tuesday. Grocery Outlet Holding Corp. has a twelve month low of $15.72 and a twelve month high of $29.98. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 3.12 and a beta of 0.10. The company’s 50-day moving average price is $18.19 and its 200-day moving average price is $21.82. 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 (NASDAQ:GO) last posted its quarterly 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 business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 EPS. As a group, equities analysts predict that Grocery Outlet Holding Corp. will post 0.68 earnings per share for the current year.

Insider Activity

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

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.