TownSquare Capital LLC grew its stake in Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) by 14.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 44,116 shares of the company's stock after acquiring an additional 5,513 shares during the period. TownSquare Capital LLC's holdings in Grocery Outlet were worth $1,446,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the stock. First Trust Advisors LP lifted its holdings in Grocery Outlet by 202.2% during the 4th quarter. First Trust Advisors LP now owns 490,412 shares of the company's stock worth $13,869,000 after buying an additional 328,130 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Grocery Outlet by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,180,164 shares of the company's stock worth $33,375,000 after acquiring an additional 13,117 shares during the period. ETF Managers Group LLC acquired a new stake in shares of Grocery Outlet in the fourth quarter valued at $650,000. Charles Schwab Investment Management Inc. raised its stake in shares of Grocery Outlet by 10.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 578,780 shares of the company's stock valued at $16,368,000 after acquiring an additional 56,361 shares in the last quarter. Finally, TRU Independence Asset Management 2 LLC boosted its holdings in Grocery Outlet by 33.2% in the first quarter. TRU Independence Asset Management 2 LLC now owns 11,960 shares of the company's stock valued at $392,000 after purchasing an additional 2,980 shares during the period. 96.41% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Ratings Changes
A number of equities research analysts have issued reports on GO shares. Deutsche Bank Aktiengesellschaft increased their price target on Grocery Outlet from $40.00 to $48.00 and gave the company a "buy" rating in a research report on Wednesday, June 29th. DA Davidson cut shares of Grocery Outlet from a "buy" rating to a "neutral" rating and raised their target price for the company from $36.00 to $43.00 in a report on Wednesday, July 6th. They noted that the move was a valuation call. Craig Hallum upgraded shares of Grocery Outlet from a "hold" rating to a "buy" rating and set a $43.00 price target for the company in a report on Wednesday, May 11th. Cowen raised their price objective on shares of Grocery Outlet from $42.00 to $45.00 in a report on Friday, June 10th. Finally, TheStreet raised shares of Grocery Outlet from a "c" rating to a "b" rating in a research report on Tuesday, June 21st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.
Insider Buying and Selling
In other news, Director Thomas F. Herman sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the director now directly owns 34,517 shares in the company, valued at $1,553,265. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Thomas F. Herman sold 5,000 shares of the stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the sale, the director now owns 34,517 shares in the company, valued at $1,553,265. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Robert Joseph Jr. Sheedy sold 6,667 shares of the company's stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $44.30, for a total value of $295,348.10. Following the sale, the president now directly owns 66,242 shares of the company's stock, valued at $2,934,520.60. The disclosure for this sale can be found here. Insiders have sold 656,594 shares of company stock worth $25,386,331 in the last quarter. 11.20% of the stock is owned by insiders.
Grocery Outlet Trading Up 1.4 %
Shares of Grocery Outlet stock opened at $45.52 on Friday. The company has a fifty day simple moving average of $39.62 and a 200-day simple moving average of $33.07. Grocery Outlet Holding Corp. has a 12-month low of $21.01 and a 12-month high of $45.20. The company has a current ratio of 1.90, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 81.29, a PEG ratio of 5.54 and a beta of -0.28.
Grocery Outlet (NASDAQ:GO – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. Grocery Outlet had a net margin of 1.74% and a return on equity of 8.65%. The company had revenue of $831.40 million during the quarter, compared to the consensus estimate of $810.39 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Grocery Outlet's revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities analysts forecast that Grocery Outlet Holding Corp. will post 0.78 EPS for the current fiscal year.
About Grocery Outlet
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Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.
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