Los Angeles Capital Management LLC Makes New $3.69 Million Investment in Grocery Outlet Holding Corp. (NASDAQ:GO)

Los Angeles Capital Management LLC bought a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) during the fourth quarter, Holdings Channel reports. The institutional investor bought 137,015 shares of the company’s stock, valued at approximately $3,694,000.

Several other hedge funds also recently modified their holdings of the stock. Natixis Advisors L.P. purchased a new position in shares of Grocery Outlet in the 4th quarter worth about $291,000. Retirement Systems of Alabama lifted its position in shares of Grocery Outlet by 0.8% during the 4th quarter. Retirement Systems of Alabama now owns 124,329 shares of the company’s stock valued at $3,352,000 after buying an additional 994 shares during the last quarter. Headlands Technologies LLC increased its holdings in Grocery Outlet by 32,200.0% in the 4th quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock worth $131,000 after acquiring an additional 4,830 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in Grocery Outlet by 10.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 88,710 shares of the company’s stock valued at $2,392,000 after acquiring an additional 8,353 shares during the period. Finally, Federated Hermes Inc. boosted its position in Grocery Outlet by 1.7% during the fourth quarter. Federated Hermes Inc. now owns 1,453,032 shares of the company’s stock worth $39,174,000 after purchasing an additional 24,530 shares during the period. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Trading Down 0.4 %

Shares of Grocery Outlet stock opened at $25.71 on Monday. The company has a 50 day simple moving average of $26.95 and a two-hundred day simple moving average of $27.10. The firm has a market cap of $2.57 billion, a PE ratio of 32.54, a PEG ratio of 2.47 and a beta of 0.13. Grocery Outlet Holding Corp. has a 1 year low of $23.41 and a 1 year high of $36.54. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 0.43.

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

Insider Buying and Selling

In other news, Director Thomas F. Herman sold 1,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total value of $29,000.00. Following the completion of the sale, the director now owns 10,400 shares of the company’s stock, valued at approximately $301,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Grocery Outlet news, Director Thomas F. Herman sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $29.00, for a total value of $29,000.00. Following the completion of the sale, the director now owns 10,400 shares in the company, valued at $301,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrea Renee Bortner sold 4,112 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $26.33, for a total transaction of $108,268.96. Following the completion of the transaction, the insider now owns 49,308 shares in the company, valued at approximately $1,298,279.64. The disclosure for this sale can be found here. Insiders sold 506,588 shares of company stock worth $13,367,577 in the last quarter. 4.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GO shares. Telsey Advisory Group dropped their price target on shares of Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Wednesday, February 28th. Finally, UBS Group dropped their price objective on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.44.

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.