Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC reduced its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,546,214 shares of the company’s stock after selling 29,281 shares during the quarter. Geneva Capital Management LLC owned approximately 1.59% of Grocery Outlet worth $24,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp grew its position in Grocery Outlet by 0.6% during the third quarter. State Street Corp now owns 3,407,152 shares of the company’s stock valued at $59,796,000 after acquiring an additional 21,237 shares during the period. Charles Schwab Investment Management Inc. grew its position in Grocery Outlet by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,631 shares of the company’s stock valued at $20,428,000 after acquiring an additional 138,161 shares during the period. WCM Investment Management LLC grew its position in Grocery Outlet by 3.8% during the third quarter. WCM Investment Management LLC now owns 1,264,133 shares of the company’s stock valued at $22,337,000 after acquiring an additional 46,632 shares during the period. Point72 Asset Management L.P. grew its position in Grocery Outlet by 159.8% during the third quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company’s stock valued at $21,676,000 after acquiring an additional 759,697 shares during the period. Finally, Victory Capital Management Inc. grew its position in Grocery Outlet by 23.2% during the third quarter. Victory Capital Management Inc. now owns 915,119 shares of the company’s stock valued at $16,060,000 after acquiring an additional 172,050 shares during the period. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Grocery Outlet Trading Up 1.3 %

NASDAQ:GO opened at $11.47 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. Grocery Outlet Holding Corp. has a one year low of $10.26 and a one year high of $29.13. The business’s 50-day simple moving average is $15.69 and its 200 day simple moving average is $16.87. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 9.08 and a beta of 0.36.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GO shares. Wells Fargo & Company decreased their target price on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Craig Hallum decreased their target price on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Bank of America decreased their target price on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. 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, TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $25.00 to $16.00 in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.25.

Insider Buying and Selling

In other news, CFO Christopher M. Miller acquired 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the purchase, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $116,800. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth W. Alterman acquired 25,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $11.88 per share, for a total transaction of $297,000.00. Following the purchase, the director now directly owns 64,592 shares of the company’s stock, valued at $767,352.96. This represents a 63.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 200,000 shares of company stock worth $2,435,050. 4.50% of the stock is currently owned by corporate 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.