Raymond James & Associates Lowers Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Raymond James & Associates decreased its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 37.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,248 shares of the company’s stock after selling 24,961 shares during the quarter. Raymond James & Associates’ holdings in Grocery Outlet were worth $1,112,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Van Berkom & Associates Inc. boosted its stake in shares of Grocery Outlet by 62.4% in the third quarter. Van Berkom & Associates Inc. now owns 2,394,826 shares of the company’s stock worth $69,091,000 after acquiring an additional 920,032 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Grocery Outlet by 7.7% in the first quarter. BlackRock Inc. now owns 8,852,693 shares of the company’s stock worth $290,192,000 after acquiring an additional 631,964 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Grocery Outlet by 12.8% in the fourth quarter. Alliancebernstein L.P. now owns 5,445,064 shares of the company’s stock worth $158,941,000 after acquiring an additional 616,589 shares during the last quarter. Norges Bank acquired a new stake in shares of Grocery Outlet in the fourth quarter worth approximately $16,272,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Grocery Outlet by 43.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,697,944 shares of the company’s stock worth $49,563,000 after acquiring an additional 512,159 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Stock Up 1.9 %

GO opened at $26.97 on Friday. The business has a 50 day moving average price of $26.87 and a two-hundred day moving average price of $27.17. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.68 billion, a PE ratio of 34.14, a P/E/G ratio of 2.55 and a beta of 0.10. Grocery Outlet Holding Corp. has a 52 week low of $23.41 and a 52 week high of $36.54.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $989.82 million during the quarter, compared to the consensus estimate of $982.44 million. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. As a group, research analysts anticipate that Grocery Outlet Holding Corp. will post 0.95 EPS for the current year.

Insider Buying and Selling

In other Grocery Outlet news, Director Thomas F. Herman sold 2,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total transaction of $58,000.00. Following the sale, the director now owns 11,400 shares in the company, valued at approximately $330,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Grocery Outlet news, Director Thomas F. Herman sold 2,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total transaction of $58,000.00. Following the sale, the director now owns 11,400 shares in the company, valued at approximately $330,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric J. Jr. Lindberg sold 300,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.16, for a total value of $7,848,000.00. Following the sale, the director now owns 107,123 shares in the company, valued at approximately $2,802,337.68. The disclosure for this sale can be found here. Insiders have sold a total of 506,588 shares of company stock worth $13,367,577 in the last quarter. Company insiders own 6.20% of the company’s stock.

Analysts Set New Price Targets

GO has been the topic of a number of analyst reports. Telsey Advisory Group reduced their price objective on Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. UBS Group reduced their price objective on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Finally, Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.44.

About Grocery Outlet

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.