Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC increased its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 887.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,675 shares of the company’s stock after buying an additional 94,969 shares during the quarter. Cerity Partners LLC owned about 0.11% of Grocery Outlet worth $1,855,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in Grocery Outlet by 14.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,170,470 shares of the company’s stock valued at $20,542,000 after buying an additional 147,312 shares during the period. Moran Wealth Management LLC acquired a new position in shares of Grocery Outlet during the third quarter worth about $2,581,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Grocery Outlet during the third quarter worth about $441,000. Quest Partners LLC acquired a new stake in Grocery Outlet in the third quarter valued at about $266,000. Finally, Thrivent Financial for Lutherans boosted its holdings in Grocery Outlet by 5.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 209,531 shares of the company’s stock valued at $3,677,000 after purchasing an additional 11,615 shares in the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Trading Down 4.9 %

Grocery Outlet stock opened at $19.98 on Tuesday. Grocery Outlet Holding Corp. has a one year low of $13.60 and a one year high of $29.80. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 39.22, a P/E/G ratio of 5.28 and a beta of 0.13. 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 firm has a 50-day moving average of $17.29 and a 200-day moving average of $19.06.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the firm posted $0.25 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. On average, equities analysts expect that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Insider Transactions at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,155,580.02. The trade was a 73.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Erik D. Ragatz bought 110,000 shares of the stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the acquisition, the director now owns 539,785 shares of the company’s stock, valued at $9,851,076.25. This represents a 25.59 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on GO shares. Craig Hallum decreased their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Melius Research assumed coverage on Grocery Outlet in a report on Monday, September 23rd. They set a “hold” rating and a $17.00 price objective for the company. TD Cowen lowered Grocery Outlet from a “buy” rating to a “hold” rating and lowered their target price for the company from $25.00 to $16.00 in a report on Wednesday, November 6th. The Goldman Sachs Group dropped their price target on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Finally, Telsey Advisory Group lowered their price objective on shares of Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Grocery Outlet Company 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.