WCM Investment Management LLC Lowers Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

WCM Investment Management LLC reduced its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,212,282 shares of the company’s stock after selling 51,851 shares during the period. WCM Investment Management LLC owned approximately 1.25% of Grocery Outlet worth $18,245,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GO. Blue Trust Inc. increased its stake in Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the period. Decker Retirement Planning Inc. acquired a new position in shares of Grocery Outlet in the fourth quarter valued at approximately $31,000. Capital Performance Advisors LLP purchased a new stake in Grocery Outlet during the 3rd quarter worth approximately $32,000. KBC Group NV lifted its holdings in Grocery Outlet by 62.7% during the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after buying an additional 1,736 shares in the last quarter. Finally, True Wealth Design LLC purchased a new position in Grocery Outlet in the 3rd quarter valued at approximately $75,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Price Performance

Shares of GO opened at $16.79 on Friday. The firm has a fifty day moving average price of $16.88 and a 200 day moving average price of $17.48. The stock has a market cap of $1.63 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 18.37 and a beta of 0.32. Grocery Outlet Holding Corp. has a 1-year low of $13.60 and a 1-year high of $29.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Loop Capital began coverage on Grocery Outlet in a research note on Thursday, October 17th. They issued a “hold” rating and a $17.00 price objective on the stock. Craig Hallum reduced their price target on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered their price objective on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Roth Mkm reduced their target price on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, UBS Group lowered their price target on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Grocery Outlet has a consensus rating of “Hold” and a consensus target price of $18.00.

Insider Buying and Selling

In other Grocery Outlet news, Director Erik D. Ragatz acquired 110,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the purchase, the director now owns 539,785 shares in the company, valued at $9,851,076.25. This trade represents a 25.59 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.50% of the stock is currently owned by company insiders.

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.