Raymond James & Associates Buys 14,801 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Raymond James & Associates increased its stake in Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) by 22.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,784 shares of the company’s stock after purchasing an additional 14,801 shares during the period. Raymond James & Associates owned 0.08% of Grocery Outlet worth $2,656,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GO. Captrust Financial Advisors raised its position in shares of Grocery Outlet by 58.1% during the 2nd quarter. Captrust Financial Advisors now owns 762 shares of the company’s stock valued at $32,000 after acquiring an additional 280 shares during the last quarter. James Investment Research Inc. bought a new stake in shares of Grocery Outlet during the 2nd quarter valued at $58,000. Point72 Hong Kong Ltd bought a new stake in shares of Grocery Outlet during the 1st quarter valued at $118,000. Nisa Investment Advisors LLC bought a new stake in shares of Grocery Outlet during the 2nd quarter valued at $129,000. Finally, Prospera Financial Services Inc bought a new stake in shares of Grocery Outlet during the 2nd quarter valued at $137,000. Institutional investors own 97.42% of the company’s stock.

Insider Buying and Selling

In other Grocery Outlet news, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $31.69, for a total value of $63,380.00. Following the sale, the director now owns 39,400 shares in the company, valued at $1,248,586. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Charles Bracher sold 6,250 shares of the firm’s stock in a transaction on Friday, October 28th. The shares were 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 owns 77,234 shares of the company’s stock, valued at $2,725,587.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $31.69, for a total transaction of $63,380.00. Following the transaction, the director now directly owns 39,400 shares of the company’s stock, valued at approximately $1,248,586. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,806 shares of company stock worth $1,401,001. Corporate insiders own 11.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Grocery Outlet from $38.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, November 9th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Grocery Outlet from $51.00 to $43.00 in a research note on Friday, November 4th. Credit Suisse Group started coverage on shares of Grocery Outlet in a research note on Monday, December 19th. They issued a “neutral” rating and a $30.00 target price for the company. Morgan Stanley reduced their target price on shares of Grocery Outlet from $30.00 to $26.00 and set an “underweight” rating for the company in a research note on Tuesday, January 17th. Finally, DA Davidson reduced their target price on shares of Grocery Outlet to $39.00 in a research note on Tuesday, November 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Grocery Outlet Stock Up 0.8 %

Grocery Outlet stock opened at $28.99 on Friday. The stock has a market cap 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 quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 0.35. Grocery Outlet Holding Corp. has a twelve month low of $23.69 and a twelve month high of $46.37. The company’s 50-day moving average price is $29.74 and its two-hundred day moving average price is $35.23.

Grocery Outlet (NASDAQ:GO – Get Rating) last announced its earnings results on Tuesday, November 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Grocery Outlet had a return on equity of 7.83% and a net margin of 1.63%. The business had revenue of $918.19 million for the quarter, compared to analyst estimates of $880.51 million. As a group, analysts expect that Grocery Outlet Holding Corp. will post 0.76 EPS for the current year.

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.