Granite Investment Partners LLC Makes New $7.91 Million Investment in Grocery Outlet Holding Corp. (NASDAQ:GO)

Granite Investment Partners LLC acquired a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 507,005 shares of the company's stock, valued at approximately $7,914,000. Granite Investment Partners LLC owned about 0.52% of Grocery Outlet as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Decker Retirement Planning Inc. acquired a new stake in shares of Grocery Outlet in the fourth quarter valued at about $31,000. Aster Capital Management DIFC Ltd bought a new stake in Grocery Outlet during the 4th quarter valued at approximately $41,000. Quadrant Capital Group LLC grew its holdings in Grocery Outlet by 276.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company's stock valued at $43,000 after buying an additional 2,036 shares during the last quarter. KBC Group NV increased its position in Grocery Outlet by 62.7% in 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, PNC Financial Services Group Inc. increased its position in Grocery Outlet by 472.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the company's stock worth $76,000 after buying an additional 4,040 shares during the period. 99.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GO has been the topic of several research analyst reports. Jefferies Financial Group upgraded shares of Grocery Outlet from a "hold" rating to a "buy" rating and raised their price objective for the stock from $13.00 to $18.00 in a research note on Wednesday. Morgan Stanley dropped their price objective on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price for the company. in a research note on Wednesday, February 26th. The Goldman Sachs Group lowered their price target on Grocery Outlet from $14.00 to $11.00 and set a "sell" rating on the stock in a research note on Thursday, February 27th. Finally, Wells Fargo & Company reduced their price objective on Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Grocery Outlet has a consensus rating of "Hold" and an average price target of $15.46.

Grocery Outlet Price Performance

GO traded up $0.52 during trading on Thursday, hitting $15.16. The company's stock had a trading volume of 3,190,859 shares, compared to its average volume of 2,233,326. The firm's 50 day moving average price is $13.80 and its two-hundred day moving average price is $15.96. 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 stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 9.08 and a beta of 0.40. Grocery Outlet Holding Corp. has a 12 month low of $10.26 and a 12 month high of $27.64.

Insider Buying and Selling

In other Grocery Outlet news, Director Erik D. Ragatz bought 165,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was bought at an average price of $12.25 per share, for a total transaction of $2,021,250.00. Following the transaction, the director now owns 201,500 shares of the company's stock, valued at approximately $2,468,375. The trade was a 452.05 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher M. Miller acquired 10,000 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $11.68 per share, with a total value of $116,800.00. Following the acquisition, the chief financial officer now directly owns 10,000 shares of the company's stock, valued at $116,800. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. 4.50% of the stock is owned by corporate insiders.

About Grocery Outlet

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.