Bank of New York Mellon Corp Sells 188,781 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Bank of New York Mellon Corp cut its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 22.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 652,759 shares of the company’s stock after selling 188,781 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.67% of Grocery Outlet worth $10,190,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Decker Retirement Planning Inc. bought a new position in shares of Grocery Outlet in the fourth quarter worth $31,000. KBC Group NV increased its position in Grocery Outlet by 62.7% during the fourth quarter. KBC Group NV now owns 4,506 shares of the company’s stock valued at $70,000 after acquiring an additional 1,736 shares during the last quarter. True Wealth Design LLC purchased a new position in Grocery Outlet during the third quarter valued at $75,000. Blueshift Asset Management LLC purchased a new stake in Grocery Outlet in the 3rd quarter worth $227,000. Finally, Choreo LLC bought a new position in shares of Grocery Outlet during the 4th quarter valued at about $245,000. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Trading Up 1.4 %

NASDAQ GO opened at $12.43 on Friday. The stock has a market capitalization of $1.21 billion, a P/E ratio of 24.37, a PEG ratio of 9.08 and a beta of 0.36. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. Grocery Outlet Holding Corp. has a 12 month low of $10.26 and a 12 month high of $29.13. The firm’s 50-day moving average is $15.32 and its two-hundred day moving average is $16.65.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, CFO Christopher M. Miller bought 10,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the transaction, the chief financial officer now owns 10,000 shares in the company, valued at approximately $116,800. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven K. Wilson sold 6,477 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total value of $73,449.18. Following the completion of the transaction, the executive vice president now owns 173,605 shares in the company, valued at $1,968,680.70. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 200,000 shares of company stock valued at $2,435,050 and sold 17,756 shares valued at $216,892. 4.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on GO shares. Wells Fargo & Company dropped their target price on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a report on Wednesday, February 26th. Bank of America reduced their price objective on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Telsey Advisory Group decreased their price objective on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Grocery Outlet presently has an average rating of “Hold” and an average target price of $15.25.

About Grocery Outlet

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.