127,707 Shares in Grocery Outlet Holding Corp. (NASDAQ:GO) Acquired by Fred Alger Management LLC

Fred Alger Management LLC bought a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 127,707 shares of the company's stock, valued at approximately $2,241,000. Fred Alger Management LLC owned approximately 0.13% of Grocery Outlet as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new position in shares of Grocery Outlet in the 3rd quarter valued at $391,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Grocery Outlet by 1.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 290,036 shares of the company's stock worth $5,090,000 after purchasing an additional 4,107 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in Grocery Outlet in the third quarter worth about $227,000. BNP Paribas Financial Markets lifted its stake in Grocery Outlet by 14.5% during the third quarter. BNP Paribas Financial Markets now owns 165,480 shares of the company's stock worth $2,904,000 after purchasing an additional 20,914 shares during the period. Finally, Bank of Hawaii acquired a new stake in Grocery Outlet during the third quarter valued at approximately $370,000. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Trading Down 4.9 %

GO stock traded down $1.02 during midday trading on Monday, hitting $19.98. 2,113,081 shares of the company's stock were exchanged, compared to its average volume of 1,859,672. Grocery Outlet Holding Corp. has a one year low of $13.60 and a one year high of $29.80. The stock's fifty day moving average price is $17.29 and its 200-day moving average price is $19.06. The company has a market cap of $1.94 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 5.28 and a beta of 0.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

Grocery Outlet (NASDAQ:GO - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The business's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. Research analysts predict that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now directly owns 70,938 shares of the company's stock, valued at approximately $1,155,580.02. The trade was a 73.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Erik D. Ragatz acquired 110,000 shares of the company's stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the transaction, the director now directly owns 539,785 shares of the company's stock, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.50% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on GO. The Goldman Sachs Group reduced their target price on shares of Grocery Outlet from $17.00 to $15.00 and set a "sell" rating on the stock in a research note on Friday, November 1st. Roth Mkm decreased their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 6th. TD Cowen lowered shares of Grocery Outlet from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $25.00 to $16.00 in a report on Wednesday, November 6th. Roth Capital raised Grocery Outlet from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 7th. Finally, Bank of America cut Grocery Outlet from a "buy" rating to a "neutral" rating and dropped their price target for the company from $29.00 to $17.00 in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned 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 price target of $18.00.

Grocery Outlet 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.