Sanctuary Advisors LLC Takes Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Sanctuary Advisors LLC bought a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,505 shares of the company’s stock, valued at approximately $360,000.

A number of other institutional investors have also modified their holdings of the business. Blue Trust Inc. boosted its position in shares of Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Grocery Outlet during the 2nd quarter worth $38,000. Capital Performance Advisors LLP purchased a new stake in shares of Grocery Outlet during the 3rd quarter worth $32,000. Canada Pension Plan Investment Board purchased a new stake in shares of Grocery Outlet during the 2nd quarter worth $82,000. Finally, True Wealth Design LLC purchased a new stake in shares of Grocery Outlet during the 3rd quarter worth $75,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Grocery Outlet Stock Down 3.2 %

Shares of GO stock opened at $15.47 on Friday. The stock has a 50 day moving average of $17.77 and a 200-day moving average of $18.53. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The firm has a market cap of $1.50 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 4.74 and a beta of 0.25. Grocery Outlet Holding Corp. has a 12 month low of $13.60 and a 12 month high of $29.19.

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

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz bought 110,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were bought at an average price of $18.25 per share, for a total transaction 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 approximately $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on GO. Telsey Advisory Group reiterated a “market perform” rating and issued a $18.00 price objective on shares of Grocery Outlet in a research report on Thursday, December 19th. 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 research report on Wednesday, November 6th. Loop Capital assumed coverage on shares of Grocery Outlet in a research report on Thursday, October 17th. They issued a “hold” rating and a $17.00 price objective on the stock. Melius Research assumed coverage on shares of Grocery Outlet in a report on Monday, September 23rd. They issued a “hold” rating and a $17.00 target price on the stock. Finally, TD Cowen lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and reduced their target price for the company from $25.00 to $16.00 in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.00.

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.