Bank of Montreal Can Sells 20,208 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Bank of Montreal Can trimmed its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 49.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,643 shares of the company's stock after selling 20,208 shares during the period. Bank of Montreal Can's holdings in Grocery Outlet were worth $322,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of GO. Barclays PLC boosted its holdings in Grocery Outlet by 1,224.1% in the third quarter. Barclays PLC now owns 300,393 shares of the company's stock valued at $5,271,000 after acquiring an additional 277,706 shares in the last quarter. Choreo LLC purchased a new stake in Grocery Outlet in the fourth quarter worth about $245,000. New York State Common Retirement Fund increased its position in Grocery Outlet by 124.7% during the 4th quarter. New York State Common Retirement Fund now owns 88,350 shares of the company's stock valued at $1,379,000 after buying an additional 49,035 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Grocery Outlet during the fourth quarter valued at $1,079,000. Finally, SG Americas Securities LLC purchased a new stake in Grocery Outlet during the 4th quarter valued at about $658,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Trading Down 1.9 %

Grocery Outlet stock opened at $15.82 on Thursday. Grocery Outlet Holding Corp. has a one year low of $10.26 and a one year high of $27.64. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The stock has a market cap of $1.55 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 9.08 and a beta of 0.40. The stock has a 50-day moving average of $13.66 and a two-hundred day moving average of $15.92.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, CFO Christopher M. Miller bought 10,000 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $11.68 per share, for a total transaction of $116,800.00. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company's stock, valued at approximately $116,800. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Erik D. Ragatz acquired 165,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $12.25 per share, for a total transaction of $2,021,250.00. Following the completion of the acquisition, the director now owns 201,500 shares of the company's stock, valued at $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 purchased 200,000 shares of company stock worth $2,435,050 and sold 17,756 shares worth $216,892. Insiders own 4.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Jefferies Financial Group raised Grocery Outlet from a "hold" rating to a "buy" rating and lifted their target price for the stock from $13.00 to $18.00 in a report on Wednesday, April 16th. Telsey Advisory Group lowered 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. Morgan Stanley reduced their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price on the stock. in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company lowered their price target on shares of Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Grocery Outlet presently has a consensus rating of "Hold" and an average price target of $15.46.

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.

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