Vancity Investment Management Ltd Takes $747,000 Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Vancity Investment Management Ltd acquired a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 26,424 shares of the company’s stock, valued at approximately $747,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GO. Advisor Group Holdings Inc. lifted its stake in shares of Grocery Outlet by 51.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 5,508 shares of the company’s stock valued at $192,000 after purchasing an additional 1,868 shares during the period. Raymond James & Associates raised its stake in Grocery Outlet by 38.3% during the 1st quarter. Raymond James & Associates now owns 55,554 shares of the company’s stock worth $1,821,000 after buying an additional 15,389 shares during the period. Private Advisor Group LLC acquired a new position in Grocery Outlet during the 1st quarter worth approximately $242,000. Citigroup Inc. raised its stake in Grocery Outlet by 120.4% during the 1st quarter. Citigroup Inc. now owns 22,823 shares of the company’s stock worth $748,000 after buying an additional 134,572 shares during the period. Finally, Bank of Montreal Can acquired a new position in Grocery Outlet during the 1st quarter worth approximately $1,166,000.

Insider Activity

In other news, insider Pamela B. Burke sold 5,797 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $35.00, for a total value of $202,895.00. Following the completion of the transaction, the insider now directly owns 50,490 shares of the company’s stock, valued at $1,767,150. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Grocery Outlet news, insider Pamela B. Burke sold 5,797 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $35.00, for a total transaction of $202,895.00. Following the completion of the transaction, the insider now directly owns 50,490 shares of the company’s stock, valued at $1,767,150. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Charles Bracher sold 106,612 shares of the stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $30.17, for a total value of $3,216,484.04. Following the transaction, the chief financial officer now directly owns 111,475 shares of the company’s stock, valued at $3,363,200.75. The disclosure for this sale can be found here. Insiders sold a total of 374,360 shares of company stock valued at $12,403,936 over the last three months. Corporate insiders own 6.20% of the company’s stock.

Grocery Outlet Stock Performance

GO stock opened at $30.68 on Friday. The firm has a market cap of $3.03 billion, a PE ratio of 43.21, a P/E/G ratio of 2.94 and a beta of 0.05. The company has a quick ratio of 0.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average of $32.50 and a 200-day moving average of $30.00. Grocery Outlet Holding Corp. has a 12-month low of $25.71 and a 12-month high of $38.92.

Grocery Outlet (NASDAQ:GO) last released its earnings results on Tuesday, August 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $974.89 million. Grocery Outlet had a return on equity of 7.28% and a net margin of 1.87%. As a group, sell-side analysts expect that Grocery Outlet Holding Corp. will post 0.83 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Credit Suisse Group upped their price target on Grocery Outlet from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Roth Mkm upped their price target on Grocery Outlet from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Monday, August 14th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $40.00 price target on shares of Grocery Outlet in a research note on Wednesday, August 9th. Morgan Stanley increased their price objective on Grocery Outlet from $25.00 to $27.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 22nd. Finally, UBS Group increased their price objective on Grocery Outlet from $29.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $35.11.

About Grocery Outlet

Grocery Outlet Holding Corp. engages in ownership and operation of 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.