Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Purchased by Geneva Capital Management LLC

Geneva Capital Management LLC raised its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,575,495 shares of the company’s stock after buying an additional 13,561 shares during the period. Geneva Capital Management LLC owned about 1.61% of Grocery Outlet worth $27,650,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GO. Capital World Investors raised its position in shares of Grocery Outlet by 281.4% in the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after buying an additional 2,641,016 shares during the last quarter. Millennium Management LLC grew its position in shares of Grocery Outlet by 677.6% in the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock valued at $43,832,000 after purchasing an additional 1,726,741 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Grocery Outlet in the third quarter valued at approximately $2,507,000. CWM LLC lifted its position in Grocery Outlet by 505.6% during the third quarter. CWM LLC now owns 51,933 shares of the company’s stock worth $911,000 after buying an additional 43,358 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in Grocery Outlet during the first quarter worth $217,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $18.83, for a total value of $1,883,000.00. Following the completion of the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,335,762.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $18.83, for a total value of $1,883,000.00. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,335,762.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 500,095 shares of company stock valued at $8,876,548. Corporate insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GO shares. Bank of America lowered Grocery Outlet from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $29.00 to $17.00 in a report on Wednesday, October 30th. UBS Group reduced their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Craig Hallum decreased their price objective on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Finally, Telsey Advisory Group cut their target price on Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Grocery Outlet currently has an average rating of “Hold” and an average price target of $18.00.

Grocery Outlet Stock Performance

Shares of Grocery Outlet stock opened at $19.07 on Wednesday. The business has a 50-day simple moving average of $16.57 and a 200-day simple moving average of $19.42. The company has a market cap of $1.85 billion, a PE ratio of 37.39, a P/E/G ratio of 4.68 and a beta of 0.13. Grocery Outlet Holding Corp. has a one year low of $13.60 and a one year high of $29.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. On average, equities research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal 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.