Twinbeech Capital LP Buys Shares of 258,793 Grocery Outlet Holding Corp. (NASDAQ:GO)

Twinbeech Capital LP bought a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 258,793 shares of the company’s stock, valued at approximately $4,040,000. Twinbeech Capital LP owned approximately 0.27% of Grocery Outlet at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Amundi increased its holdings in Grocery Outlet by 0.6% in the fourth quarter. Amundi now owns 116,139 shares of the company’s stock worth $1,895,000 after buying an additional 719 shares during the last quarter. Cedar Wealth Management LLC increased its holdings in Grocery Outlet by 3.9% in the fourth quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company’s stock worth $318,000 after buying an additional 765 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in Grocery Outlet by 9.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 15,671 shares of the company’s stock worth $245,000 after buying an additional 1,377 shares during the last quarter. Guggenheim Capital LLC increased its holdings in Grocery Outlet by 9.1% in the fourth quarter. Guggenheim Capital LLC now owns 16,955 shares of the company’s stock worth $265,000 after buying an additional 1,408 shares during the last quarter. Finally, KBC Group NV increased its holdings in Grocery Outlet by 62.7% in the fourth quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after buying an additional 1,736 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GO shares. Bank of America dropped their price objective on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company increased their price objective on Grocery Outlet from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. UBS Group increased their price target on Grocery Outlet from $14.50 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. The Goldman Sachs Group lowered their price target on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley lowered their price target on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.62.

Insider Activity

In other news, Director Erik D. Ragatz bought 165,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $12.25 per share, with a total value of $2,021,250.00. Following the completion of the transaction, the director now directly owns 201,500 shares in the company, valued at $2,468,375. This trade represents a 452.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Lindsay E. Gray sold 2,741 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total value of $31,082.94. Following the completion of the transaction, the senior vice president now directly owns 41,448 shares of the company’s stock, valued at approximately $470,020.32. This trade represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale 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. 4.50% of the stock is owned by company insiders.

Grocery Outlet Stock Down 1.1%

GO opened at $13.97 on Wednesday. Grocery Outlet Holding Corp. has a 1-year low of $10.26 and a 1-year high of $23.25. 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 stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 9.08 and a beta of 0.42. The business has a 50 day moving average of $14.32 and a 200-day moving average of $15.78.

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