Patten Group Inc. Reduces Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Patten Group Inc. cut its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 7.6% in the 4th quarter, HoldingsChannel reports. The fund owned 42,079 shares of the company’s stock after selling 3,483 shares during the quarter. Patten Group Inc.’s holdings in Grocery Outlet were worth $657,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Grocery Outlet in the 3rd quarter worth approximately $32,000. Decker Retirement Planning Inc. purchased a new stake in Grocery Outlet in the 4th quarter worth approximately $31,000. True Wealth Design LLC purchased a new stake in Grocery Outlet in the 3rd quarter worth approximately $75,000. KBC Group NV lifted its holdings in Grocery Outlet by 62.7% in 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 during the period. Finally, Nisa Investment Advisors LLC purchased a new stake in Grocery Outlet in the 3rd quarter worth approximately $181,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Craig Hallum dropped their price objective on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Roth Mkm decreased their target price on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. UBS Group decreased their target price on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Telsey Advisory Group decreased their target price on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.25.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz bought 165,000 shares of Grocery Outlet stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $12.25 per share, with a total value of $2,021,250.00. Following the acquisition, the director now owns 201,500 shares in the company, valued at approximately $2,468,375. This trade represents a 452.05 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth W. Alterman bought 25,000 shares of Grocery Outlet stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $11.88 per share, with a total value of $297,000.00. Following the acquisition, the director now owns 64,592 shares in the company, valued at approximately $767,352.96. This represents a 63.14 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 200,000 shares of company stock valued at $2,435,050 in the last 90 days. Corporate insiders own 4.50% of the company’s stock.

Grocery Outlet Stock Down 0.1 %

GO stock opened at $11.32 on Wednesday. Grocery Outlet Holding Corp. has a twelve month low of $10.26 and a twelve month high of $29.13. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The firm has a market cap of $1.10 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32. The business has a 50 day moving average of $15.78 and a 200 day moving average of $16.91.

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.