Proficio Capital Partners LLC Purchases New Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Proficio Capital Partners LLC purchased a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,334 shares of the company’s stock, valued at approximately $161,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GO. 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 valued at $21,676,000 after purchasing an additional 759,697 shares during the last quarter. Jane Street Group LLC raised its stake in Grocery Outlet by 357.7% during the third quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock valued at $9,118,000 after buying an additional 406,039 shares in the last quarter. Barclays PLC raised its stake in Grocery Outlet by 1,224.1% during the third quarter. Barclays PLC now owns 300,393 shares of the company’s stock valued at $5,271,000 after buying an additional 277,706 shares in the last quarter. Victory Capital Management Inc. raised its stake in Grocery Outlet by 23.2% during the third quarter. Victory Capital Management Inc. now owns 915,119 shares of the company’s stock valued at $16,060,000 after buying an additional 172,050 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Grocery Outlet by 14.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,170,470 shares of the company’s stock valued at $20,542,000 after buying an additional 147,312 shares in the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, EVP Steven K. Wilson sold 6,682 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $13.16, for a total value of $87,935.12. Following the completion of the sale, the executive vice president now owns 166,923 shares of the company’s stock, valued at $2,196,706.68. The trade was a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Erik D. Ragatz purchased 165,000 shares of Grocery Outlet stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $12.25 per share, with a total value of $2,021,250.00. Following the transaction, the director now directly owns 201,500 shares of the company’s stock, valued at approximately $2,468,375. The trade was a 452.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 200,000 shares of company stock valued at $2,435,050 and sold 17,756 shares valued at $216,892. Insiders own 4.50% of the company’s stock.

Grocery Outlet Stock Performance

Shares of GO stock opened at $12.26 on Thursday. Grocery Outlet Holding Corp. has a 1-year low of $10.26 and a 1-year high of $29.13. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 9.08 and a beta of 0.36. The stock’s fifty day simple moving average is $15.40 and its 200-day simple moving average is $16.68.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Telsey Advisory Group cut their price objective on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company dropped their price target on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley dropped their price target on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 26th. Bank of America dropped their price target on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft cut Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.25.

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.