Bank of Hawaii Takes $370,000 Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Bank of Hawaii purchased a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 21,109 shares of the company’s stock, valued at approximately $370,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in shares of 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 buying an additional 722 shares during the period. Innealta Capital LLC acquired a new stake in Grocery Outlet during the 2nd quarter worth approximately $38,000. Capital Performance Advisors LLP acquired a new stake in Grocery Outlet during the 3rd quarter worth approximately $32,000. Canada Pension Plan Investment Board purchased a new position in shares of Grocery Outlet in the 2nd quarter valued at approximately $82,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Grocery Outlet in the second quarter valued at approximately $217,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Stock Up 6.9 %

GO opened at $20.88 on Tuesday. Grocery Outlet Holding Corp. has a one year low of $13.60 and a one year high of $29.80. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 40.94, a PEG ratio of 4.92 and a beta of 0.13. The business’s fifty day moving average is $16.90 and its two-hundred day moving average is $19.05. 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 (NASDAQ:GO) last issued 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. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. Analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on GO. TD Cowen lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price objective for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. Melius Research began coverage on shares of Grocery Outlet in a research note on Monday, September 23rd. They set a “hold” rating and a $17.00 price target on the stock. Roth Mkm reduced their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group dropped their target price on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Finally, UBS Group reduced their price target on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Insider Transactions at Grocery Outlet

In other news, Director Erik D. Ragatz bought 110,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the transaction, the director now owns 539,785 shares in the company, valued at $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This trade represents a 73.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

About Grocery Outlet

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.