Grocery Outlet Holding Corp. (NASDAQ:GO) Stake Lowered by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 47.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,508 shares of the company’s stock after selling 41,554 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Grocery Outlet were worth $710,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Amundi increased its position in shares of Grocery Outlet by 0.6% during the fourth quarter. Amundi now owns 116,139 shares of the company’s stock valued at $1,895,000 after purchasing an additional 719 shares during the period. Cedar Wealth Management LLC lifted its stake in Grocery Outlet by 3.9% during the fourth quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company’s stock worth $318,000 after purchasing an additional 765 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Grocery Outlet by 2.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock valued at $732,000 after purchasing an additional 1,240 shares during the period. KBC Group NV lifted its position in shares of Grocery Outlet by 62.7% during the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after buying an additional 1,736 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new stake in Grocery Outlet in the 4th quarter valued at $31,000. 99.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GO has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and boosted their price target for the company from $13.00 to $18.00 in a research report on Wednesday, April 16th. Bank of America reduced their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley decreased their price objective on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered their target price on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.46.

Insider Activity at Grocery Outlet

In related news, CFO Christopher M. Miller acquired 10,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $11.68 per share, with a total value of $116,800.00. Following the completion of the purchase, the chief financial officer now directly owns 10,000 shares in the company, valued at $116,800. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven K. Wilson sold 6,682 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $13.16, for a total value of $87,935.12. Following the sale, the executive vice president now owns 166,923 shares of the company’s stock, valued at $2,196,706.68. This trade represents a 3.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders bought 200,000 shares of company stock valued at $2,435,050 and sold 17,756 shares valued at $216,892. 4.50% of the stock is currently owned by corporate insiders.

Grocery Outlet Price Performance

GO stock opened at $16.48 on Friday. Grocery Outlet Holding Corp. has a 12-month low of $10.26 and a 12-month high of $26.21. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $13.71 and its 200 day simple moving average is $15.93. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 9.08 and a beta of 0.40.

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.