Janney Montgomery Scott LLC Acquires Shares of 55,645 Grocery Outlet Holding Corp. (NASDAQ:GO)

Janney Montgomery Scott LLC acquired a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 55,645 shares of the company’s stock, valued at approximately $869,000. Janney Montgomery Scott LLC owned 0.06% of Grocery Outlet as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Grocery Outlet by 0.6% in the 3rd quarter. State Street Corp now owns 3,407,152 shares of the company’s stock worth $59,796,000 after buying an additional 21,237 shares during the period. Geneva Capital Management LLC raised its holdings in Grocery Outlet by 0.9% in the third quarter. Geneva Capital Management LLC now owns 1,575,495 shares of the company’s stock worth $27,650,000 after purchasing an additional 13,561 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Grocery Outlet by 3.8% during the 3rd quarter. WCM Investment Management LLC now owns 1,264,133 shares of the company’s stock worth $22,337,000 after acquiring an additional 46,632 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Grocery Outlet by 159.8% in the third quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company’s stock worth $21,676,000 after acquiring an additional 759,697 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Grocery Outlet by 14.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,170,470 shares of the company’s stock valued at $20,542,000 after acquiring an additional 147,312 shares during the period. 99.87% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Erik D. Ragatz acquired 110,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the transaction, the director now directly owns 539,785 shares in the company, valued at approximately $9,851,076.25. This represents a 25.59 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.

Grocery Outlet Stock Performance

Shares of Grocery Outlet stock opened at $17.31 on Friday. Grocery Outlet Holding Corp. has a one year low of $13.60 and a one year high of $29.19. The business has a 50-day simple moving average of $17.04 and a 200-day simple moving average of $17.50. 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 company has a market cap of $1.68 billion, a PE ratio of 33.94, a P/E/G ratio of 17.18 and a beta of 0.32.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on GO. Loop Capital assumed coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They issued a “hold” rating and a $17.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company decreased their price target on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. UBS Group reduced their price target on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and cut their price objective for the stock from $25.00 to $16.00 in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.00.

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.