New York State Common Retirement Fund Decreases Stock Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

New York State Common Retirement Fund decreased its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 15.0% in the fourth quarter, HoldingsChannel reports. The firm owned 62,908 shares of the company’s stock after selling 11,106 shares during the quarter. New York State Common Retirement Fund’s holdings in Grocery Outlet were worth $1,696,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GO. Vanguard Group Inc. grew its holdings in Grocery Outlet by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,171,964 shares of the company’s stock valued at $264,611,000 after buying an additional 217,421 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Grocery Outlet by 4.6% in the fourth quarter. Mackenzie Financial Corp now owns 4,926,336 shares of the company’s stock valued at $132,814,000 after purchasing an additional 216,257 shares in the last quarter. Clearbridge Investments LLC increased its position in Grocery Outlet by 6.6% in the third quarter. Clearbridge Investments LLC now owns 2,533,464 shares of the company’s stock worth $73,090,000 after purchasing an additional 157,332 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in Grocery Outlet by 62.4% during the third quarter. Van Berkom & Associates Inc. now owns 2,394,826 shares of the company’s stock valued at $69,091,000 after purchasing an additional 920,032 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Grocery Outlet by 1.7% in the 4th quarter. Federated Hermes Inc. now owns 1,453,032 shares of the company’s stock worth $39,174,000 after buying an additional 24,530 shares in the last quarter. 99.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on GO. The Goldman Sachs Group lowered their price target on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating for the company in a report on Thursday. Roth Mkm lowered their price objective on Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Wednesday, February 28th. Telsey Advisory Group cut their price objective on shares of Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, UBS Group lowered their target price on shares of Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $29.33.

Grocery Outlet Trading Up 0.2 %

NASDAQ GO opened at $20.92 on Friday. Grocery Outlet Holding Corp. has a 12 month low of $19.73 and a 12 month high of $36.54. The company’s 50-day moving average price is $26.83 and its 200-day moving average price is $27.03. The stock has a market cap of $2.09 billion, a PE ratio of 26.47, a PEG ratio of 2.47 and a beta of 0.13. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 0.24.

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

Insider Buying and Selling at Grocery Outlet

In other news, Director Thomas F. Herman sold 2,000 shares of the firm’s 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 transaction, the director now owns 11,400 shares in the company, valued at $330,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $29.00, for a total transaction of $58,000.00. Following the transaction, the director now directly owns 11,400 shares of the company’s stock, valued at $330,600. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrea Renee Bortner sold 4,112 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $26.33, for a total value of $108,268.96. Following the sale, the insider now owns 49,308 shares of the company’s stock, valued at approximately $1,298,279.64. The disclosure for this sale can be found here. Insiders sold a total of 506,588 shares of company stock valued at $13,367,577 in the last ninety days. Corporate insiders own 4.50% of the company’s stock.

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.