Grocery Outlet Holding Corp. (NASDAQ:GO) Holdings Reduced by Point72 Asset Management L.P.

Point72 Asset Management L.P. lessened its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,162,468 shares of the company’s stock after selling 72,610 shares during the period. Point72 Asset Management L.P.’s holdings in Grocery Outlet were worth $18,146,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Decker Retirement Planning Inc. bought a new position in Grocery Outlet in the 4th quarter valued at about $31,000. Aster Capital Management DIFC Ltd bought a new position in shares of Grocery Outlet in the fourth quarter valued at approximately $41,000. Quadrant Capital Group LLC increased its stake in shares of Grocery Outlet by 276.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock valued at $43,000 after acquiring an additional 2,036 shares during the period. KBC Group NV increased its stake in shares of Grocery Outlet by 62.7% during the fourth quarter. KBC Group NV now owns 4,506 shares of the company’s stock valued at $70,000 after acquiring an additional 1,736 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Grocery Outlet by 472.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the company’s stock worth $76,000 after purchasing an additional 4,040 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Grocery Outlet

In related news, CFO Christopher M. Miller bought 10,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was bought 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 of the company’s stock, valued at approximately $116,800. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Erik D. Ragatz purchased 165,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $12.25 per share, for a total transaction of $2,021,250.00. Following the completion of the purchase, the director now directly owns 201,500 shares of the company’s stock, valued at $2,468,375. The trade was a 452.05% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 219,000 shares of company stock valued at $2,709,790 and have sold 17,756 shares valued at $216,892. Company insiders own 4.50% of the company’s stock.

Grocery Outlet Price Performance

GO stock opened at $14.22 on Friday. Grocery Outlet Holding Corp. has a one year low of $10.26 and a one year high of $23.25. The firm has a 50-day moving average of $14.25 and a two-hundred day moving average of $15.79. The firm has a market capitalization of $1.39 billion, a PE ratio of 27.88, a P/E/G ratio of 9.08 and a beta of 0.42. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34.

Grocery Outlet (NASDAQ:GO) last issued 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 business 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. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. The Goldman Sachs Group decreased their price target on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. Morgan Stanley cut their price objective on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, February 26th. UBS Group raised their target price on Grocery Outlet from $14.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Bank of America dropped their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $16.00 price target on shares of Grocery Outlet in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Grocery Outlet presently has an average rating of “Hold” and a consensus target price of $15.62.

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.