Blue Trust Inc. Purchases 722 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Blue Trust Inc. grew its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 76.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,665 shares of the company’s stock after purchasing an additional 722 shares during the quarter. Blue Trust Inc.’s holdings in Grocery Outlet were worth $29,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Grocery Outlet by 0.7% during the 1st 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 last quarter. 12 West Capital Management LP increased its stake in shares of Grocery Outlet by 383.3% in 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. Dimensional Fund Advisors LP increased its stake in shares of Grocery Outlet by 22.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock valued at $79,933,000 after acquiring an additional 655,065 shares in the last quarter. Capital World Investors increased its stake 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 in the last quarter. Finally, Van Berkom & Associates Inc. increased its stake 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 valued at $77,388,000 after acquiring an additional 609,871 shares in the last quarter. Institutional investors own 99.87% of the company’s stock.

Grocery Outlet Price Performance

Shares of NASDAQ GO opened at $15.05 on Friday. Grocery Outlet Holding Corp. has a twelve month low of $13.60 and a twelve month high of $29.98. The stock’s 50 day moving average price is $16.81 and its 200-day moving average price is $19.97. The company has a market capitalization of $1.47 billion, a PE ratio of 27.87, a PEG ratio of 3.39 and a beta of 0.13. 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 announced its earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the business earned $0.23 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that Grocery Outlet Holding Corp. will post 0.66 EPS for the current year.

Insider Transactions at Grocery Outlet

In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction that occurred on 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 owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction 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 sale, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares in the company, valued at $1,155,580.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 500,095 shares of company stock worth $8,876,548 in the last 90 days. Insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in 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. Bank of America lowered shares of Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $17.00 in a research note on Wednesday. Craig Hallum lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price objective for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. Melius Research initiated coverage on shares of Grocery Outlet in a report on Monday, September 23rd. They set a “hold” rating and a $17.00 price objective on the stock. Finally, Telsey Advisory Group downgraded shares of Grocery Outlet from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $27.00 to $19.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.73.

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.