Guggenheim Capital LLC Boosts Stake in Grocery Outlet Holding Corp. (NASDAQ:GO)

Guggenheim Capital LLC lifted its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) by 5.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,154 shares of the company’s stock after buying an additional 952 shares during the period. Guggenheim Capital LLC’s holdings in Grocery Outlet were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors raised its stake in Grocery Outlet by 58.1% during the second quarter. Captrust Financial Advisors now owns 762 shares of the company’s stock worth $32,000 after purchasing an additional 280 shares during the period. Prospera Financial Services Inc purchased a new position in Grocery Outlet during the second quarter worth about $137,000. Point72 Hong Kong Ltd purchased a new position in Grocery Outlet during the first quarter worth about $118,000. Amundi purchased a new position in Grocery Outlet during the second quarter worth about $171,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Grocery Outlet during the second quarter worth about $216,000. 97.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GO shares. DA Davidson reduced their target price on shares of Grocery Outlet to $39.00 in a research note on Tuesday, November 15th. Morgan Stanley dropped their price target on shares of Grocery Outlet from $26.00 to $25.00 and set an “underweight” rating for the company in a research report on Wednesday, March 1st. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Grocery Outlet from $38.00 to $34.00 in a research report on Wednesday, March 1st. Telsey Advisory Group reiterated an “outperform” rating and set a $44.00 price target on shares of Grocery Outlet in a research report on Friday, February 24th. Finally, Roth Capital reiterated a “neutral” rating on shares of Grocery Outlet in a research report on Thursday, March 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Grocery Outlet presently has an average rating of “Hold” and an average target price of $39.20.

Grocery Outlet Trading Down 1.8 %

Shares of GO stock opened at $26.70 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.47 and a current ratio of 1.67. The stock has a market capitalization of $2.61 billion, a P/E ratio of 41.08, a price-to-earnings-growth ratio of 3.34 and a beta of -0.02. The company has a 50 day moving average price of $29.09 and a 200 day moving average price of $31.72. Grocery Outlet Holding Corp. has a fifty-two week low of $25.71 and a fifty-two week high of $46.37.

Insider Activity at Grocery Outlet

In related news, CEO Robert Joseph Jr. Sheedy sold 6,837 shares of Grocery Outlet stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $27.46, for a total value of $187,744.02. Following the completion of the transaction, the chief executive officer now owns 147,562 shares in the company, valued at $4,052,052.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Eric J. Jr. Lindberg sold 54,029 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $27.23, for a total transaction of $1,471,209.67. Following the completion of the sale, the director now owns 111,631 shares in the company, valued at approximately $3,039,712.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Joseph Jr. Sheedy sold 6,837 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $27.46, for a total transaction of $187,744.02. Following the sale, the chief executive officer now owns 147,562 shares of the company’s stock, valued at approximately $4,052,052.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,588 shares of company stock worth $3,600,360. Corporate insiders own 11.20% of the company’s stock.

Grocery Outlet Profile

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Grocery Outlet Holding Corp. engages in the operation of retail stores in the United States. It offers name-brand consumables and fresh products through a network of independently operated stores. The company was founded by Jim Read in 1946 and is headquartered in Emeryville, CA.