Geneva Capital Management LLC Grows Stock Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Geneva Capital Management LLC boosted its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,575,495 shares of the company’s stock after buying an additional 13,561 shares during the period. Geneva Capital Management LLC’s holdings in Grocery Outlet were worth $27,650,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings 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 acquiring an additional 722 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Grocery Outlet in the first quarter valued at about $25,000. Texas Permanent School Fund Corp lifted its stake in shares of Grocery Outlet by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 86,879 shares of the company’s stock valued at $2,500,000 after purchasing an additional 1,126 shares during the period. Swiss National Bank boosted its holdings in Grocery Outlet by 0.6% during the first quarter. Swiss National Bank now owns 186,100 shares of the company’s stock worth $5,356,000 after buying an additional 1,200 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in Grocery Outlet during the second quarter worth about $38,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GO shares. Melius Research assumed coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They set a “hold” rating and a $17.00 price target for the company. 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. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Bank of America cut shares of Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company cut their target price on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.00.

Insiders Place Their Bets

In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the sale, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now owns 70,938 shares in the company, valued at $1,155,580.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 500,095 shares of company stock valued at $8,876,548 over the last quarter. Company insiders own 4.50% of the company’s stock.

Grocery Outlet Stock Performance

Grocery Outlet stock opened at $19.07 on Wednesday. The stock has a fifty day moving average price of $16.57 and a 200 day moving average price of $19.42. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. Grocery Outlet Holding Corp. has a 52 week low of $13.60 and a 52 week high of $29.98. The firm has a market capitalization of $1.85 billion, a P/E ratio of 37.39, a PEG ratio of 4.68 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company posted $0.25 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities research analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

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.