Principal Financial Group Inc. Has $7.35 Million Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Principal Financial Group Inc. grew its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 471,098 shares of the company’s stock after purchasing an additional 9,758 shares during the quarter. Principal Financial Group Inc. owned about 0.48% of Grocery Outlet worth $7,354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. grew its holdings in Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Grocery Outlet during the third quarter worth $32,000. Decker Retirement Planning Inc. acquired a new position in shares of Grocery Outlet in the 4th quarter valued at $31,000. True Wealth Design LLC bought a new stake in shares of Grocery Outlet in the 3rd quarter valued at $75,000. Finally, KBC Group NV raised its stake in Grocery Outlet by 62.7% during the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after buying an additional 1,736 shares during the period. 99.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GO has been the subject of several recent analyst reports. Roth Mkm lowered their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group lowered their target price on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research note on Thursday. Bank of America cut their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday. Morgan Stanley lowered their price objective on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday. Finally, TD Cowen cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Grocery Outlet currently has an average rating of “Hold” and a consensus price target of $15.25.

Grocery Outlet Price Performance

NASDAQ:GO opened at $11.87 on Friday. Grocery Outlet Holding Corp. has a 52-week low of $10.26 and a 52-week high of $29.13. The company has a market cap of $1.16 billion, a P/E ratio of 23.27, a P/E/G ratio of 9.08 and a beta of 0.32. 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 stock’s 50-day simple moving average is $15.95 and its 200 day simple moving average is $17.03.

Insiders Place Their Bets

In other news, CFO Christopher M. Miller bought 10,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $11.68 per share, with a total value of $116,800.00. Following the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at $116,800. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.