Holocene Advisors LP Grows Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Holocene Advisors LP raised its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 56.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 255,235 shares of the company’s stock after buying an additional 91,801 shares during the period. Holocene Advisors LP owned about 0.26% of Grocery Outlet worth $4,479,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of Grocery Outlet during the third quarter worth $2,507,000. Cerity Partners LLC boosted its position in shares of Grocery Outlet by 887.1% during the third quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock worth $1,855,000 after buying an additional 94,969 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Grocery Outlet during the third quarter worth $441,000. Millennium Management LLC boosted its position in shares of Grocery Outlet by 677.6% during the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock worth $43,832,000 after buying an additional 1,726,741 shares during the period. Finally, CWM LLC boosted its position in shares of Grocery Outlet by 505.6% during the third quarter. CWM LLC now owns 51,933 shares of the company’s stock worth $911,000 after buying an additional 43,358 shares during the period. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GO has been the subject of a number of recent research reports. 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 report on Wednesday, November 6th. TD Cowen lowered Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the company from $25.00 to $16.00 in a report on Wednesday, November 6th. Melius Research initiated coverage on Grocery Outlet in a report on Monday, September 23rd. They issued a “hold” rating and a $17.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their target price on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Loop Capital began coverage on Grocery Outlet in a report on Thursday, October 17th. They issued a “hold” rating and a $17.00 target price for the company. One equities 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 issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.00.

Insider Transactions at Grocery Outlet

In related news, Director Erik D. Ragatz purchased 110,000 shares of the company’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 transaction, the director now directly owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,155,580.02. This trade represents a 73.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Grocery Outlet Stock Down 0.6 %

GO opened at $19.69 on Thursday. The business’s 50-day simple moving average is $17.50 and its 200-day simple moving average is $19.04. 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 $13.60 and a one year high of $29.80. The stock has a market capitalization of $1.91 billion, a P/E ratio of 38.61, a price-to-earnings-growth ratio of 5.03 and a beta of 0.25.

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

Grocery Outlet Company 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.