Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Purchased by Providence Capital Advisors LLC

Providence Capital Advisors LLC boosted its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 80.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,803 shares of the company’s stock after purchasing an additional 127,812 shares during the period. Grocery Outlet makes up about 1.4% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 20th biggest holding. Providence Capital Advisors LLC owned approximately 0.29% of Grocery Outlet worth $6,322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Grocery Outlet during the fourth quarter valued at about $24,588,000. Quest Partners LLC acquired a new stake in shares of Grocery Outlet during the fourth quarter valued at about $193,000. Intech Investment Management LLC acquired a new stake in shares of Grocery Outlet during the fourth quarter valued at about $253,000. Treasurer of the State of North Carolina grew its stake in shares of Grocery Outlet by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 42,093 shares of the company’s stock valued at $1,135,000 after acquiring an additional 410 shares in the last quarter. Finally, Capstone Investment Advisors LLC grew its stake in shares of Grocery Outlet by 20.3% during the fourth quarter. Capstone Investment Advisors LLC now owns 35,692 shares of the company’s stock valued at $962,000 after acquiring an additional 6,022 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the sale, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now owns 70,938 shares in the company, valued at $1,155,580.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,340,728.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 500,095 shares of company stock valued at $8,876,548. Insiders own 4.50% of the company’s stock.

Grocery Outlet Stock Performance

Shares of NASDAQ GO opened at $16.28 on Tuesday. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $18.60 and its two-hundred day moving average price is $22.15. Grocery Outlet Holding Corp. has a 52-week low of $15.72 and a 52-week high of $29.98. The stock has a market capitalization of $1.63 billion, a P/E ratio of 25.44, a P/E/G ratio of 3.16 and a beta of 0.10.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the company posted $0.23 earnings per share. Grocery Outlet’s revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts forecast that Grocery Outlet Holding Corp. will post 0.68 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on GO shares. Craig Hallum downgraded Grocery Outlet from a “buy” rating to a “hold” rating and lowered their target price for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Melius Research started coverage on shares of Grocery Outlet in a research report on Monday. They set a “hold” rating and a $17.00 price target on the stock. Wells Fargo & Company started coverage on shares of Grocery Outlet in a research report on Thursday, July 18th. They set an “overweight” rating and a $28.00 price target on the stock. Finally, Telsey Advisory Group reduced their price target on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $22.11.

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.