Amalgamated Bank Has $540,000 Stake in Grocery Outlet Holding Corp. (NASDAQ:GO)

Amalgamated Bank trimmed its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 30.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,763 shares of the company’s stock after selling 13,285 shares during the period. Amalgamated Bank’s holdings in Grocery Outlet were worth $540,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GO. 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 buying an additional 2,641,016 shares during the period. Millennium Management LLC increased its stake in shares of Grocery Outlet by 677.6% in the 2nd quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock valued at $43,832,000 after buying an additional 1,726,741 shares during the period. CWM LLC increased its stake in shares of Grocery Outlet by 505.6% in the 3rd quarter. CWM LLC now owns 51,933 shares of the company’s stock valued at $911,000 after buying an additional 43,358 shares during the period. Bleakley Financial Group LLC bought a new position in shares of Grocery Outlet in the 1st quarter worth $217,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Grocery Outlet by 137.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 197,916 shares of the company’s stock worth $4,378,000 after purchasing an additional 114,576 shares during the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

Grocery Outlet Stock Down 1.6 %

Grocery Outlet stock opened at $17.82 on Friday. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. Grocery Outlet Holding Corp. has a 12-month low of $13.60 and a 12-month high of $29.80. The firm’s fifty day moving average is $16.62 and its 200 day moving average is $19.31. The company has a market capitalization of $1.73 billion, a PE ratio of 34.94, a PEG ratio of 4.77 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. Grocery Outlet’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. As a group, sell-side analysts predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 70,938 shares in the company, valued at $1,308,096.72. This trade represents a 58.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have sold 400,095 shares of company stock valued at $6,986,548. 4.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GO has been the topic of several recent research reports. TD Cowen lowered Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price target for the stock from $25.00 to $16.00 in a research report on Wednesday, November 6th. Bank of America lowered Grocery Outlet from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $29.00 to $17.00 in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reduced their target price on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Loop Capital started coverage on Grocery Outlet in a report on Thursday, October 17th. They set a “hold” rating and a $17.00 target price on the stock. Finally, The Goldman Sachs Group reduced their target price on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Grocery Outlet has an average rating of “Hold” and a consensus price target of $18.00.

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.