Heartland Advisors Inc. grew its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO – Free Report) by 8.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 739,850 shares of the company’s stock after purchasing an additional 57,200 shares during the period. Heartland Advisors Inc. owned approximately 0.75% of Grocery Outlet worth $5,216,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd boosted its stake in shares of Grocery Outlet by 1,030.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,532 shares of the company’s stock valued at $26,000 after purchasing an additional 2,308 shares during the period. Kestra Advisory Services LLC acquired a new position in Grocery Outlet in the 4th quarter worth $35,000. Chicago Partners Investment Group LLC purchased a new position in Grocery Outlet in the 1st quarter valued at about $71,000. State of Wyoming boosted its position in Grocery Outlet by 96.9% in the 4th quarter. State of Wyoming now owns 7,886 shares of the company’s stock valued at $80,000 after buying an additional 3,880 shares during the last quarter. Finally, Bayforest Capital Ltd boosted its position in Grocery Outlet by 427.0% in the 4th quarter. Bayforest Capital Ltd now owns 9,465 shares of the company’s stock valued at $96,000 after buying an additional 7,669 shares during the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.
Grocery Outlet Price Performance
Shares of GO stock opened at $9.44 on Monday. The firm has a fifty day moving average of $9.07 and a two-hundred day moving average of $8.65. The firm has a market cap of $933.80 million, a P/E ratio of -2.43, a P/E/G ratio of 14.61 and a beta of 0.64. Grocery Outlet Holding Corp. has a 1-year low of $5.66 and a 1-year high of $19.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.28 and a quick ratio of 0.27.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on GO shares. Weiss Ratings raised Grocery Outlet from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, July 14th. TD Cowen increased their price target on Grocery Outlet from $6.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, May 14th. Wells Fargo & Company raised their price objective on Grocery Outlet from $7.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, May 14th. Finally, DA Davidson lifted their price objective on Grocery Outlet from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Eleven investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $10.32.
Get Our Latest Stock Analysis on Grocery Outlet
Insider Transactions at Grocery Outlet
In other news, insider Paul Blaine Miller acquired 5,000 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were purchased at an average price of $9.50 per share, for a total transaction of $47,500.00. Following the completion of the purchase, the insider directly owned 64,171 shares of the company’s stock, valued at $609,624.50. This represents a 8.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is owned by insiders.
Grocery Outlet Company Profile
Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.
The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.
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