American Century Companies Inc. Decreases Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

American Century Companies Inc. cut its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 89.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,194 shares of the company's stock after selling 900,109 shares during the period. American Century Companies Inc. owned approximately 0.11% of Grocery Outlet worth $1,705,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Decker Retirement Planning Inc. bought a new position in Grocery Outlet in the fourth quarter valued at approximately $31,000. KBC Group NV boosted its holdings in Grocery Outlet by 62.7% in the fourth quarter. KBC Group NV now owns 4,506 shares of the company's stock valued at $70,000 after acquiring an additional 1,736 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Grocery Outlet by 472.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the company's stock valued at $76,000 after purchasing an additional 4,040 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Grocery Outlet during the 4th quarter worth about $161,000. Finally, Natixis Advisors LLC acquired a new stake in Grocery Outlet during the fourth quarter worth approximately $240,000. 99.87% of the stock is owned by institutional investors.

Grocery Outlet Stock Performance

Shares of GO stock traded down $0.28 during trading hours on Tuesday, hitting $13.96. 258,292 shares of the company were exchanged, compared to its average volume of 2,211,640. Grocery Outlet Holding Corp. has a 52-week low of $10.26 and a 52-week high of $27.64. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $13.91 and a 200 day simple moving average of $15.99. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 9.08 and a beta of 0.40.

Analysts Set New Price Targets

Several brokerages recently issued reports on GO. Wells Fargo & Company cut their target price on shares of Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group decreased their price objective on Grocery Outlet from $14.00 to $11.00 and set a "sell" rating for the company in a report on Thursday, February 27th. Telsey Advisory Group cut their target price on Grocery Outlet from $18.00 to $16.00 and set a "market perform" rating on the stock in a report on Wednesday, February 26th. Bank of America decreased their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Finally, Morgan Stanley decreased their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $15.25.

Insider Buying and Selling at Grocery Outlet

In other news, CFO Christopher M. Miller acquired 10,000 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the transaction, the chief financial officer now owns 10,000 shares of the company's stock, valued at $116,800. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Erik D. Ragatz purchased 165,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $12.25 per share, for a total transaction of $2,021,250.00. Following the acquisition, the director now owns 201,500 shares of the company's stock, valued at approximately $2,468,375. This trade represents a 452.05 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. Corporate insiders own 4.50% of the company's stock.

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.