Proficio Capital Partners LLC Buys Shares of 10,334 Grocery Outlet Holding Corp. (NASDAQ:GO)

Proficio Capital Partners LLC purchased a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,334 shares of the company’s stock, valued at approximately $161,000.

Other large investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Grocery Outlet in the 3rd quarter valued at approximately $441,000. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 purchasing an additional 147,312 shares during the period. Cerity Partners LLC raised its stake in shares of Grocery Outlet by 887.1% during the third quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock valued at $1,855,000 after purchasing an additional 94,969 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Grocery Outlet by 14.5% during the third quarter. BNP Paribas Financial Markets now owns 165,480 shares of the company’s stock valued at $2,904,000 after purchasing an additional 20,914 shares in the last quarter. Finally, Blueshift Asset Management LLC bought a new position in Grocery Outlet in the 3rd quarter valued at about $227,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Stock Performance

Grocery Outlet stock opened at $12.97 on Friday. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $29.10. The firm’s 50 day simple moving average is $14.61 and its 200-day simple moving average is $16.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The company has a market cap of $1.26 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 9.08 and a beta of 0.36.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bank of America dropped 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 report on Wednesday, February 26th. Telsey Advisory Group cut their target price on 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. 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. The Goldman Sachs Group cut their price objective on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley lowered their target price on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Grocery Outlet presently has a consensus rating of “Hold” and a consensus target price of $15.25.

Insiders Place Their Bets

In other news, SVP Lindsay E. Gray sold 2,741 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total value of $31,082.94. Following the completion of the sale, the senior vice president now directly owns 41,448 shares of the company’s stock, valued at $470,020.32. This represents a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher M. Miller acquired 10,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the purchase, the chief financial officer now owns 10,000 shares in the company, valued at approximately $116,800. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. Corporate insiders own 4.50% of the company’s stock.

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.