Comerica Bank Grows Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Comerica Bank boosted its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,701 shares of the company’s stock after purchasing an additional 3,006 shares during the period. Comerica Bank owned approximately 0.06% of Grocery Outlet worth $1,838,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Captrust Financial Advisors lifted its stake in shares of Grocery Outlet by 58.1% in the 2nd quarter. Captrust Financial Advisors now owns 762 shares of the company’s stock valued at $32,000 after purchasing an additional 280 shares in the last quarter. James Investment Research Inc. purchased a new stake in shares of Grocery Outlet during the 2nd quarter worth about $58,000. Point72 Hong Kong Ltd purchased a new stake in shares of Grocery Outlet during the 1st quarter worth about $118,000. Nisa Investment Advisors LLC purchased a new stake in Grocery Outlet during the second quarter worth approximately $129,000. Finally, Prospera Financial Services Inc purchased a new stake in Grocery Outlet during the second quarter worth approximately $137,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GO. The Goldman Sachs Group boosted their price objective on shares of Grocery Outlet from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, November 9th. Telsey Advisory Group decreased their target price on Grocery Outlet from $50.00 to $44.00 and set an “outperform” rating for the company in a research report on Wednesday, November 9th. Credit Suisse Group began coverage on Grocery Outlet in a research report on Monday, December 19th. They issued a “neutral” rating and a $30.00 target price for the company. DA Davidson decreased their price target on Grocery Outlet to $39.00 in a report on Tuesday, November 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Grocery Outlet from $51.00 to $43.00 in a report on Friday, November 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Insider Transactions at Grocery Outlet

In other news, CFO Charles Bracher sold 6,250 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $35.29, for a total transaction of $220,562.50. Following the transaction, the chief financial officer now owns 77,234 shares of the company’s stock, valued at $2,725,587.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Eric J. Jr. Lindberg sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $35.28, for a total value of $882,000.00. Following the transaction, the chief executive officer now directly owns 60,560 shares in the company, valued at approximately $2,136,556.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Charles Bracher sold 6,250 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $35.29, for a total transaction of $220,562.50. Following the completion of the transaction, the chief financial officer now directly owns 77,234 shares in the company, valued at approximately $2,725,587.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,806 shares of company stock valued at $1,401,001. Insiders own 11.20% of the company’s stock.

Grocery Outlet Trading Up 0.8 %

Shares of GO opened at $28.99 on Friday. The company has a market capitalization of $2.82 billion, a P/E ratio of 51.77, a P/E/G ratio of 2.87 and a beta of -0.06. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.48 and a current ratio of 1.63. The stock has a 50-day moving average price of $29.76 and a 200 day moving average price of $35.33. Grocery Outlet Holding Corp. has a one year low of $23.69 and a one year high of $46.37.

Grocery Outlet (NASDAQ:GO – Get Rating) last released its earnings results on Tuesday, November 8th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). Grocery Outlet had a net margin of 1.63% and a return on equity of 7.83%. The business had revenue of $918.19 million for the quarter, compared to analysts’ expectations of $880.51 million. Sell-side analysts forecast that Grocery Outlet Holding Corp. will post 0.76 EPS for the current fiscal year.

About Grocery Outlet

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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.