369,183 Shares in Grocery Outlet Holding Corp. $GO Bought by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. purchased a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 369,183 shares of the company’s stock, valued at approximately $5,925,000. Dana Investment Advisors Inc. owned about 0.38% of Grocery Outlet at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bayforest Capital Ltd acquired a new position in shares of Grocery Outlet in the third quarter worth approximately $29,000. Hantz Financial Services Inc. raised its holdings in Grocery Outlet by 591.5% during the 3rd 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. lifted its position in shares of Grocery Outlet by 32.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock worth $37,000 after purchasing an additional 719 shares during the period. AlphaQuest LLC lifted its position in shares of Grocery Outlet by 327.7% in the 2nd quarter. AlphaQuest LLC now owns 5,761 shares of the company’s stock worth $72,000 after purchasing an additional 4,414 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Grocery Outlet in the 2nd quarter valued at $120,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Price Performance

GO stock opened at $10.09 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.30 and a quick ratio of 0.25. The company’s 50-day moving average is $9.87 and its 200-day moving average is $13.08. The stock has a market capitalization of $990.20 million, a PE ratio of -201.80, a price-to-earnings-growth ratio of 2.03 and a beta of 0.49. Grocery Outlet Holding Corp. has a 1 year low of $8.96 and a 1 year high of $19.41.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Grocery Outlet from $14.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. UBS Group reissued a “neutral” rating and issued a $11.50 price objective on shares of Grocery Outlet in a research report on Thursday, December 18th. Telsey Advisory Group dropped their price objective on Grocery Outlet from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Wells Fargo & Company decreased their target price on Grocery Outlet from $19.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, December 19th. Finally, Zacks Research downgraded Grocery Outlet from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Grocery Outlet has a consensus rating of “Hold” and a consensus price target of $14.14.

Grocery Outlet Company Profile

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.