Public Sector Pension Investment Board Purchases 48,472 Shares of Grocery Outlet Holding Corp. $GO

Public Sector Pension Investment Board boosted its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 14.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,696 shares of the company’s stock after buying an additional 48,472 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.39% of Grocery Outlet worth $6,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Bayforest Capital Ltd purchased a new stake in shares of Grocery Outlet in the 3rd quarter valued at $29,000. Hantz Financial Services Inc. lifted its stake in Grocery Outlet by 591.5% in the third quarter. Hantz Financial Services Inc. now owns 2,033 shares of the company’s stock worth $33,000 after purchasing an additional 1,739 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Grocery Outlet by 32.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock valued at $37,000 after buying an additional 719 shares during the period. AlphaQuest LLC grew its stake in shares of Grocery Outlet by 327.7% during the second quarter. AlphaQuest LLC now owns 5,761 shares of the company’s stock valued at $72,000 after buying an additional 4,414 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Grocery Outlet in the second quarter worth about $120,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Stock Up 2.8%

Shares of Grocery Outlet stock opened at $10.32 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.40. Grocery Outlet Holding Corp. has a 12-month low of $8.96 and a 12-month high of $19.41. The company has a market cap of $1.01 billion, a P/E ratio of -206.40, a PEG ratio of 2.00 and a beta of 0.49. The company’s fifty day simple moving average is $9.92 and its two-hundred day simple moving average is $13.27.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Telsey Advisory Group dropped their target price on Grocery Outlet from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday. TD Cowen dropped their price objective on Grocery Outlet from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, November 5th. Zacks Research cut shares of Grocery Outlet from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Deutsche Bank Aktiengesellschaft set a $11.00 price target on shares of Grocery Outlet in a report on Thursday, January 8th. Finally, Bank of America cut their price target on shares of Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Grocery Outlet currently has an average rating of “Hold” and a consensus price target of $14.32.

About Grocery Outlet

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.