Canada Pension Plan Investment Board Takes Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Canada Pension Plan Investment Board acquired a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,700 shares of the company’s stock, valued at approximately $82,000.

Several other large investors have also modified their holdings of GO. Norges Bank acquired a new stake in shares of Grocery Outlet in the fourth quarter worth $24,588,000. Treasurer of the State of North Carolina boosted its position in shares of Grocery Outlet by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 42,093 shares of the company’s stock worth $1,135,000 after buying an additional 410 shares during the period. Blueshift Asset Management LLC acquired a new stake in shares of Grocery Outlet in the fourth quarter worth $330,000. Capital Research Global Investors boosted its position in shares of Grocery Outlet by 2.2% in the fourth quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock worth $251,871,000 after buying an additional 199,926 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Grocery Outlet by 261.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 57,471 shares of the company’s stock worth $1,549,000 after buying an additional 41,592 shares during the period. 99.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on GO. Melius Research began coverage on Grocery Outlet in a research report on Monday, September 23rd. They issued a “hold” rating and a $17.00 target price for the company. UBS Group reduced their price objective on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Telsey Advisory Group cut their target price on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Craig Hallum lowered Grocery Outlet from a “buy” rating to a “hold” rating and cut their target price for the company from $32.00 to $20.00 in a report on Wednesday, July 31st. Finally, Wells Fargo & Company began coverage on Grocery Outlet in a report on Thursday, July 18th. They set an “overweight” rating and a $28.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Grocery Outlet presently has a consensus rating of “Hold” and an average target price of $22.11.

Grocery Outlet Trading Up 3.5 %

Grocery Outlet stock opened at $17.67 on Monday. The business has a 50 day moving average price of $18.25 and a two-hundred day moving average price of $21.88. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 3.12 and a beta of 0.10. Grocery Outlet Holding Corp. has a 12 month low of $15.72 and a 12 month high of $29.98.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. As a group, equities analysts forecast that Grocery Outlet Holding Corp. will post 0.68 EPS for the current year.

Insider Buying and Selling

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the transaction, the director now directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. The disclosure for this sale can be found here. Insiders have sold a total of 500,095 shares of company stock worth $8,876,548 in the last three months. Insiders own 4.50% of the company’s stock.

Grocery Outlet Company Profile

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.