Boston Partners Increases Stock Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Boston Partners boosted its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 48.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,395,238 shares of the company’s stock after purchasing an additional 455,893 shares during the period. Boston Partners’ holdings in Grocery Outlet were worth $21,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. raised its holdings in shares of Grocery Outlet by 159.8% in 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 buying an additional 759,697 shares during the last quarter. Jane Street Group LLC raised its stake in Grocery Outlet by 357.7% during the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock valued at $9,118,000 after acquiring an additional 406,039 shares during the last quarter. Barclays PLC lifted its position in Grocery Outlet by 1,224.1% during the 3rd quarter. Barclays PLC now owns 300,393 shares of the company’s stock worth $5,271,000 after acquiring an additional 277,706 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Grocery Outlet by 112.6% in the 4th quarter. First Eagle Investment Management LLC now owns 474,000 shares of the company’s stock valued at $7,399,000 after purchasing an additional 251,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Grocery Outlet by 14.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,170,470 shares of the company’s stock valued at $20,542,000 after purchasing an additional 147,312 shares during the period. 99.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley decreased their price target on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group lowered their target price on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a report on Thursday, February 27th. Bank of America cut their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company dropped their target price on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft cut Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Grocery Outlet has a consensus rating of “Hold” and a consensus price target of $15.25.

Grocery Outlet Trading Up 0.6 %

Shares of GO stock opened at $12.63 on Friday. The stock has a market cap of $1.23 billion, a P/E ratio of 24.77, a P/E/G ratio of 9.08 and a beta of 0.36. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $29.13. The business has a fifty day simple moving average of $14.96 and a 200-day simple moving average of $16.44.

Insider Buying and Selling at Grocery Outlet

In other news, EVP Steven K. Wilson sold 6,682 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $13.16, for a total value of $87,935.12. Following the sale, the executive vice president now directly owns 166,923 shares in the company, valued at $2,196,706.68. This represents a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher M. Miller acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $11.68 per share, with a total value of $116,800.00. Following the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $116,800. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 200,000 shares of company stock worth $2,435,050 and sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by insiders.

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.