Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 76.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,622 shares of the company’s stock after selling 63,854 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Grocery Outlet were worth $434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GO. Virtu Financial LLC acquired a new position in shares of Grocery Outlet during the 4th quarter worth $282,000. Vanguard Group Inc. raised its stake in Grocery Outlet by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 9,273,020 shares of the company’s stock valued at $250,001,000 after purchasing an additional 101,056 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Grocery Outlet by 19.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 163,504 shares of the company’s stock valued at $4,706,000 after purchasing an additional 26,489 shares during the last quarter. Red Spruce Capital LLC acquired a new position in Grocery Outlet in the 1st quarter valued at about $2,606,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Grocery Outlet in the 1st quarter valued at about $25,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Insider Transactions at Grocery Outlet

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $18.83, for a total transaction of $1,883,000.00. Following the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,335,762.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $18.83, for a total transaction of $1,883,000.00. Following the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,335,762.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the transaction, the director now directly owns 70,938 shares in the company, valued at $1,155,580.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 500,095 shares of company stock worth $8,876,548. 4.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GO shares. Wells Fargo & Company started coverage on shares of Grocery Outlet in a research note on Thursday, July 18th. They issued an “overweight” rating and a $28.00 target price for the company. Melius Research started coverage on shares of Grocery Outlet in a research note on Monday, September 23rd. They issued a “hold” rating and a $17.00 target price for the company. Roth Mkm cut their target price on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Telsey Advisory Group lowered their price target on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.11.

Grocery Outlet Stock Up 2.6 %

Shares of NASDAQ:GO opened at $16.87 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29. Grocery Outlet Holding Corp. has a 1 year low of $15.18 and a 1 year high of $29.98. The stock has a market capitalization of $1.68 billion, a P/E ratio of 26.36, a PEG ratio of 3.10 and a beta of 0.10. The stock has a 50-day simple moving average of $17.42 and a 200-day simple moving average of $20.88.

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 return on equity of 5.18% and a net margin of 1.30%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the business earned $0.23 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities analysts forecast that Grocery Outlet Holding Corp. will post 0.68 earnings per share for the current year.

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.