PNC Financial Services Group Inc. Has $76,000 Stock Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

PNC Financial Services Group Inc. grew its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 472.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,896 shares of the company’s stock after acquiring an additional 4,040 shares during the period. PNC Financial Services Group Inc.’s holdings in Grocery Outlet were worth $76,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. grew its stake in shares of Grocery Outlet by 1.8% in the third quarter. Franklin Resources Inc. now owns 29,987 shares of the company’s stock valued at $526,000 after acquiring an additional 529 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Grocery Outlet by 2.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock valued at $732,000 after purchasing an additional 1,240 shares during the period. KBC Group NV boosted its holdings in Grocery Outlet by 62.7% in the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock valued at $70,000 after purchasing an additional 1,736 shares during the period. Decker Retirement Planning Inc. acquired a new position in shares of Grocery Outlet during the 4th quarter worth approximately $31,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Grocery Outlet by 1.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 290,036 shares of the company’s stock worth $5,090,000 after purchasing an additional 4,107 shares during the period. Institutional investors own 99.87% of the company’s stock.

Grocery Outlet Price Performance

Shares of GO opened at $12.21 on Wednesday. The business has a 50-day moving average of $14.73 and a 200-day moving average of $16.31. Grocery Outlet Holding Corp. has a 1 year low of $10.26 and a 1 year high of $29.13. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth 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.

Insider Buying and Selling at Grocery Outlet

In related news, CFO Christopher M. Miller bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $116,800. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven K. Wilson sold 6,682 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $13.16, for a total transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders have bought 200,000 shares of company stock valued at $2,435,050 and have sold 17,756 shares valued at $216,892. Insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GO shares. 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. Bank of America decreased their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Morgan Stanley cut their price target on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their price objective on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a research note on Thursday, February 27th. Finally, Wells Fargo & Company cut their target price on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.