SG Americas Securities LLC grew its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) by 246.1% in the 1st quarter, Holdings Channel reports. The fund owned 28,308 shares of the company's stock after purchasing an additional 20,130 shares during the quarter. SG Americas Securities LLC's holdings in Grocery Outlet were worth $928,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the business. Capital World Investors grew its holdings in shares of Grocery Outlet by 44.7% during the fourth quarter. Capital World Investors now owns 5,693,839 shares of the company's stock worth $161,022,000 after buying an additional 1,760,000 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Grocery Outlet by 20.8% during the fourth quarter. Sei Investments Co. now owns 1,997,110 shares of the company's stock worth $56,478,000 after buying an additional 343,990 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Grocery Outlet by 202.2% during the fourth 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. Ranger Investment Management L.P. grew its holdings in shares of Grocery Outlet by 30.1% during the fourth quarter. Ranger Investment Management L.P. now owns 1,187,083 shares of the company's stock worth $33,571,000 after buying an additional 274,504 shares in the last quarter. Finally, Becker Capital Management Inc. bought a new position in shares of Grocery Outlet during the fourth quarter worth about $5,875,000. 96.41% of the stock is currently owned by institutional investors.
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Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Grocery Outlet from $40.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, June 29th. Cowen increased their price objective on Grocery Outlet from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, June 10th. DA Davidson cut Grocery Outlet from a "buy" rating to a "neutral" rating and increased their price target for the company from $36.00 to $43.00 in a research report on Wednesday, July 6th. They noted that the move was a valuation call. Cowen increased their price target on Grocery Outlet from $42.00 to $45.00 in a research report on Friday, June 10th. Finally, Bank of America raised Grocery Outlet from an "underperform" rating to a "buy" rating and increased their price target for the company from $23.00 to $37.00 in a research report on Friday, April 29th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Grocery Outlet currently has an average rating of "Moderate Buy" and an average price target of $38.33.
Grocery Outlet Stock Performance
GO opened at $42.72 on Monday. Grocery Outlet Holding Corp. has a 12-month low of $21.01 and a 12-month high of $46.13. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 76.29, a PEG ratio of 5.48 and a beta of -0.28. The business has a 50 day moving average of $41.47 and a 200-day moving average of $34.31. The company has a quick ratio of 0.68, a current ratio of 1.90 and a debt-to-equity ratio of 0.44.
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 analysts' consensus estimates of $0.20 by $0.02. Grocery Outlet had a return on equity of 8.65% and a net margin of 1.74%. The company had revenue of $831.40 million during the quarter, compared to analysts' expectations of $810.39 million. During the same period last year, the firm posted $0.23 earnings per share. The business's revenue was up 10.5% on a year-over-year basis. On average, equities research analysts expect that Grocery Outlet Holding Corp. will post 0.78 earnings per share for the current year.
Insider Activity
In other news, Director S. Macgregor Jr. Read sold 250,000 shares of the firm's stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $38.03, for a total value of $9,507,500.00. Following the completion of the sale, the director now directly owns 2,182,975 shares of the company's stock, valued at $83,018,539.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director S. Macgregor Jr. Read sold 250,000 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $38.03, for a total transaction of $9,507,500.00. Following the transaction, the director now owns 2,182,975 shares in the company, valued at $83,018,539.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas F. Herman sold 2,000 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $36.10, for a total value of $72,200.00. Following the transaction, the director now owns 41,517 shares in the company, valued at approximately $1,498,763.70. The disclosure for this sale can be found here. Insiders sold a total of 686,261 shares of company stock valued at $26,723,255 over the last three months. Insiders own 11.20% of the company's stock.
Grocery Outlet Profile
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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.
Further Reading
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