Principal Financial Group Inc. Has $8.10 Million Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Principal Financial Group Inc. trimmed its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 5.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 461,340 shares of the company’s stock after selling 28,770 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Grocery Outlet worth $8,097,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Capital World Investors lifted its holdings in Grocery Outlet by 281.4% during the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after purchasing an additional 2,641,016 shares during the last quarter. Millennium Management LLC boosted its holdings 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 worth $43,832,000 after acquiring an additional 1,726,741 shares in the last quarter. Solel Partners LP bought a new stake in Grocery Outlet during the 2nd quarter worth approximately $35,980,000. American Century Companies Inc. increased its holdings in Grocery Outlet by 889.9% during the 2nd quarter. American Century Companies Inc. now owns 1,010,785 shares of the company’s stock valued at $22,359,000 after purchasing an additional 908,680 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Grocery Outlet by 1,891.8% in the 2nd quarter. Victory Capital Management Inc. now owns 743,069 shares of the company’s stock valued at $16,437,000 after purchasing an additional 705,762 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz bought 110,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the transaction, the director now owns 539,785 shares in the company, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet 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 completion of the sale, the director now owns 70,938 shares in the company, valued at $1,155,580.02. The trade was a 73.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by insiders.

Grocery Outlet Stock Up 4.3 %

Grocery Outlet stock opened at $18.63 on Wednesday. Grocery Outlet Holding Corp. has a fifty-two week low of $13.60 and a fifty-two week high of $29.80. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 4.45 and a beta of 0.13. The company’s 50 day simple moving average is $16.68 and its 200 day simple moving average is $19.16.

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

Analysts Set New Price Targets

GO has been the subject of a number of research reports. Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. The Goldman Sachs Group dropped their target price on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Wells Fargo & Company decreased their price target on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Loop Capital assumed coverage on Grocery Outlet in a report on Thursday, October 17th. They set a “hold” rating and a $17.00 price objective for the company. Finally, Craig Hallum reduced their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.