Mutual of America Capital Management LLC Has $2.61 Million Stock Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Mutual of America Capital Management LLC raised its holdings in Grocery Outlet Holding Corp. (NASDAQ:GOGet Rating) by 1.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,687 shares of the company’s stock after buying an additional 1,518 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Grocery Outlet were worth $2,612,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC acquired a new stake in Grocery Outlet in the 4th quarter valued at approximately $223,000. Sciencast Management LP acquired a new stake in Grocery Outlet in the 1st quarter valued at approximately $343,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Grocery Outlet by 73.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,868 shares of the company’s stock valued at $364,000 after buying an additional 5,468 shares during the last quarter. Baker Tilly Wealth Management LLC grew its holdings in Grocery Outlet by 9.8% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 11,600 shares of the company’s stock valued at $380,000 after buying an additional 1,031 shares during the last quarter. Finally, TRU Independence Asset Management 2 LLC lifted its position in shares of Grocery Outlet by 33.2% in the 1st quarter. TRU Independence Asset Management 2 LLC now owns 11,960 shares of the company’s stock worth $392,000 after acquiring an additional 2,980 shares during the period. Institutional investors and hedge funds own 96.41% of the company’s stock.

Grocery Outlet Price Performance

Grocery Outlet stock opened at $43.89 on Friday. The business has a 50 day simple moving average of $41.33 and a 200 day simple moving average of $34.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.90 and a quick ratio of 0.68. Grocery Outlet Holding Corp. has a one year low of $21.01 and a one year high of $46.13. The company has a market capitalization of $4.23 billion, a PE ratio of 78.38, a price-to-earnings-growth ratio of 5.48 and a beta of -0.28.

Grocery Outlet (NASDAQ:GOGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. Grocery Outlet had a return on equity of 8.65% and a net margin of 1.74%. The firm had revenue of $831.40 million during the quarter, compared to the consensus estimate of $810.39 million. During the same quarter in the previous year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, sell-side analysts forecast that Grocery Outlet Holding Corp. will post 0.78 EPS for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, CEO Eric J. Jr. Lindberg sold 25,000 shares of Grocery Outlet stock in a transaction on Monday, May 16th. The stock was sold at an average price of $36.05, for a total value of $901,250.00. Following the completion of the transaction, the chief executive officer now owns 76,114 shares in the company, valued at approximately $2,743,909.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Steven K. Wilson sold 5,556 shares of Grocery Outlet stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $35.65, for a total transaction of $198,071.40. Following the completion of the sale, the senior vice president now directly owns 155,993 shares of the company’s stock, valued at $5,561,150.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric J. Jr. Lindberg sold 25,000 shares of Grocery Outlet stock in a transaction on Monday, May 16th. The stock was sold at an average price of $36.05, for a total value of $901,250.00. Following the sale, the chief executive officer now directly owns 76,114 shares of the company’s stock, valued at $2,743,909.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 686,261 shares of company stock worth $26,723,255. 11.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on GO shares. Cowen raised their price objective on Grocery Outlet from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, June 10th. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Wednesday, May 11th. TheStreet upgraded Grocery Outlet from a “c” rating to a “b” rating in a research report on Tuesday, June 21st. Bank of America upgraded Grocery Outlet from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $23.00 to $37.00 in a research report on Friday, April 29th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Grocery Outlet from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, June 29th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Grocery Outlet currently has a consensus rating of “Moderate Buy” and an average price target of $38.33.

Grocery Outlet Profile

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Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.

Further Reading

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Institutional Ownership by Quarter for Grocery Outlet (NASDAQ:GO)

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