Victory Capital Management Inc. Lowers Stock Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Victory Capital Management Inc. lessened its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 19.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 875,592 shares of the company’s stock after selling 217,208 shares during the period. Victory Capital Management Inc. owned approximately 0.88% of Grocery Outlet worth $23,606,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GO. WCM Investment Management LLC grew its position in Grocery Outlet by 4.8% during the fourth quarter. WCM Investment Management LLC now owns 946,674 shares of the company’s stock valued at $25,532,000 after acquiring an additional 43,352 shares during the last quarter. Hsbc Holdings PLC raised its position in Grocery Outlet by 1,410.7% in the 3rd quarter. Hsbc Holdings PLC now owns 138,349 shares of the company’s stock worth $3,983,000 after purchasing an additional 129,191 shares during the period. Mackenzie Financial Corp boosted its position in Grocery Outlet by 4.6% during the fourth quarter. Mackenzie Financial Corp now owns 4,926,336 shares of the company’s stock valued at $132,814,000 after buying an additional 216,257 shares during the period. State of Michigan Retirement System grew its stake in shares of Grocery Outlet by 6.8% during the third quarter. State of Michigan Retirement System now owns 23,580 shares of the company’s stock valued at $680,000 after buying an additional 1,500 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Grocery Outlet by 88.6% in the third quarter. Barclays PLC now owns 100,361 shares of the company’s stock worth $2,897,000 after buying an additional 47,140 shares during the period. Institutional investors own 99.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GO shares. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Wednesday, February 28th. UBS Group lowered their price target on shares of Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Telsey Advisory Group cut their price target on shares of Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.44.

Insiders Place Their Bets

In related news, insider Andrea Renee Bortner sold 5,522 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $25.83, for a total transaction of $142,633.26. Following the completion of the sale, the insider now directly owns 43,786 shares in the company, valued at $1,130,992.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total value of $58,000.00. Following the transaction, the director now owns 11,400 shares of the company’s stock, valued at $330,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrea Renee Bortner sold 5,522 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $25.83, for a total value of $142,633.26. Following the transaction, the insider now owns 43,786 shares of the company’s stock, valued at $1,130,992.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 506,588 shares of company stock valued at $13,367,577. Insiders own 4.50% of the company’s stock.

Grocery Outlet Stock Performance

Shares of NASDAQ GO opened at $20.88 on Thursday. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $26.94 and its 200-day moving average price is $27.07. Grocery Outlet Holding Corp. has a 52-week low of $19.73 and a 52-week high of $36.54. The company has a market cap of $2.09 billion, a PE ratio of 26.59, a PEG ratio of 2.47 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $989.82 million during the quarter, compared to the consensus estimate of $982.44 million. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. As a group, analysts anticipate that Grocery Outlet Holding Corp. will post 0.95 EPS for the current year.

Grocery Outlet Company 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.