3,407,125 Shares in Grocery Outlet Holding Corp. (NASDAQ:GO) Acquired by Simcoe Capital Management LLC

Simcoe Capital Management LLC purchased a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,407,125 shares of the company’s stock, valued at approximately $53,185,000. Grocery Outlet accounts for approximately 7.8% of Simcoe Capital Management LLC’s holdings, making the stock its 4th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC increased its stake in shares of Grocery Outlet by 1,224.1% during the third quarter. Barclays PLC now owns 300,393 shares of the company’s stock worth $5,271,000 after buying an additional 277,706 shares during the period. Sterling Capital Management LLC grew its holdings in Grocery Outlet by 53.9% during the 4th quarter. Sterling Capital Management LLC now owns 5,808 shares of the company’s stock worth $91,000 after acquiring an additional 2,034 shares in the last quarter. Choreo LLC purchased a new stake in shares of Grocery Outlet in the 4th quarter valued at approximately $245,000. New York State Common Retirement Fund raised its holdings in shares of Grocery Outlet by 124.7% in the 4th quarter. New York State Common Retirement Fund now owns 88,350 shares of the company’s stock valued at $1,379,000 after purchasing an additional 49,035 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Grocery Outlet during the 4th quarter worth $1,079,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Price Performance

GO stock opened at $13.97 on Friday. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1.37 billion, a P/E ratio of 27.39, a PEG ratio of 9.08 and a beta of 0.42. The business has a 50 day simple moving average of $14.22 and a 200-day simple moving average of $15.79. Grocery Outlet Holding Corp. has a twelve month low of $10.26 and a twelve month high of $23.25.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.07 by $0.06. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm earned $0.09 EPS. Grocery Outlet’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Analyst Ratings Changes

GO has been the topic of several recent analyst reports. Telsey Advisory Group reissued a “market perform” rating and issued a $16.00 target price on shares of Grocery Outlet in a report on Wednesday, April 30th. The Goldman Sachs Group dropped their price objective on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a report on Thursday, February 27th. Jefferies Financial Group raised Grocery Outlet from a “hold” rating to a “buy” rating and raised their target price for the stock from $13.00 to $18.00 in a research report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a report on Wednesday, February 26th. Finally, Bank of America cut their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” 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, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Grocery Outlet has a consensus rating of “Hold” and a consensus target price of $15.62.

Insider Activity

In other news, Director Erik D. Ragatz acquired 19,000 shares of the business’s stock in a transaction on Friday, May 9th. The stock was bought at an average price of $14.46 per share, for a total transaction of $274,740.00. Following the transaction, the director now owns 19,000 shares in the company, valued at $274,740. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Christopher M. Miller bought 10,000 shares of Grocery Outlet stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $11.68 per share, with a total value of $116,800.00. Following the purchase, the chief financial officer now directly 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. Over the last three months, insiders acquired 219,000 shares of company stock valued at $2,709,790 and sold 17,756 shares valued at $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.