Tower Research Capital LLC TRC Purchases 41,592 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Tower Research Capital LLC TRC boosted its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GOFree Report) by 261.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,471 shares of the company’s stock after purchasing an additional 41,592 shares during the quarter. Tower Research Capital LLC TRC owned about 0.06% of Grocery Outlet worth $1,549,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Boulder Hill Capital Management LP acquired a new position in shares of Grocery Outlet in the 4th quarter valued at $2,038,000. Charles Schwab Investment Management Inc. increased its holdings in Grocery Outlet by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 879,116 shares of the company’s stock valued at $23,701,000 after purchasing an additional 38,506 shares during the last quarter. WCM Investment Management LLC lifted its stake in Grocery Outlet by 4.8% in the fourth quarter. WCM Investment Management LLC now owns 946,674 shares of the company’s stock valued at $25,532,000 after buying an additional 43,352 shares during the period. Hsbc Holdings PLC boosted its holdings in Grocery Outlet by 1,410.7% during the third quarter. Hsbc Holdings PLC now owns 138,349 shares of the company’s stock worth $3,983,000 after buying an additional 129,191 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Grocery Outlet by 4.6% during the 4th quarter. Mackenzie Financial Corp now owns 4,926,336 shares of the company’s stock worth $132,814,000 after buying an additional 216,257 shares during the period. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Grocery Outlet news, EVP Steven K. Wilson sold 15,000 shares of Grocery Outlet stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $28.50, for a total value of $427,500.00. Following the completion of the sale, the executive vice president now owns 165,931 shares in the company, valued at approximately $4,729,033.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Erik D. Ragatz purchased 36,500 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were bought at an average price of $28.25 per share, for a total transaction of $1,031,125.00. Following the completion of the transaction, the director now owns 36,500 shares of the company’s stock, valued at $1,031,125. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven K. Wilson sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $28.50, for a total value of $427,500.00. Following the completion of the transaction, the executive vice president now directly owns 165,931 shares of the company’s stock, valued at approximately $4,729,033.50. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 146,500 shares of company stock worth $3,323,025 and have sold 49,349 shares worth $1,374,208. Company insiders own 4.50% of the company’s stock.

Grocery Outlet Price Performance

NASDAQ:GO opened at $21.14 on Tuesday. Grocery Outlet Holding Corp. has a 12-month low of $19.73 and a 12-month high of $36.54. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 33.03, a P/E/G ratio of 3.69 and a beta of 0.09. The stock’s 50 day moving average price is $24.22 and its two-hundred day moving average price is $25.99. The company has a quick ratio of 0.30, a current ratio of 1.25 and a debt-to-equity ratio of 0.23.

Grocery Outlet (NASDAQ:GOGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.10). The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. On average, analysts anticipate that Grocery Outlet Holding Corp. will post 0.72 earnings per share for the current year.

Analysts Set New Price Targets

GO has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their price target on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, May 9th. Telsey Advisory Group decreased their target price on Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Roth Mkm dropped their price target on Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. TD Cowen decreased their price objective on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Finally, Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Grocery Outlet presently has an average rating of “Hold” and an average price target of $28.90.

Check Out Our Latest Stock Report on Grocery Outlet

About Grocery Outlet

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Grocery Outlet (NASDAQ:GO)

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