Mutual of America Capital Management LLC Lowers Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Mutual of America Capital Management LLC cut its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 10.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,738 shares of the company’s stock after selling 1,675 shares during the period. Mutual of America Capital Management LLC’s holdings in Grocery Outlet were worth $259,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GO. Blue Trust Inc. boosted its holdings in shares of Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Innealta Capital LLC acquired a new position in Grocery Outlet during the 2nd quarter worth approximately $38,000. Capital Performance Advisors LLP purchased a new position in shares of Grocery Outlet during the 3rd quarter worth approximately $32,000. Canada Pension Plan Investment Board acquired a new stake in shares of Grocery Outlet in the 2nd quarter valued at approximately $82,000. Finally, CIBC Asset Management Inc acquired a new position in Grocery Outlet during the second quarter worth $217,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Grocery Outlet Stock Performance

Shares of GO stock opened at $21.25 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 41.67, a price-to-earnings-growth ratio of 5.25 and a beta of 0.13. Grocery Outlet Holding Corp. has a one year low of $13.60 and a one year high of $29.80. The company has a 50 day moving average price of $17.19 and a 200 day moving average price of $19.08.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GO shares. Roth Mkm lowered their target price on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased their target price on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company dropped their price target on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Bank of America downgraded shares of Grocery Outlet from a “buy” rating to a “neutral” rating and dropped their target price for the company from $29.00 to $17.00 in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $18.00.

Insider Activity

In other news, Director Erik D. Ragatz acquired 110,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the acquisition, the director now directly owns 539,785 shares of the company’s stock, valued at $9,851,076.25. This represents a 25.59 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s 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 owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This represents a 73.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

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.