Barclays PLC Raises Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Barclays PLC increased its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 1,224.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 300,393 shares of the company's stock after purchasing an additional 277,706 shares during the quarter. Barclays PLC owned approximately 0.31% of Grocery Outlet worth $5,271,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock worth $29,000 after purchasing an additional 722 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Grocery Outlet in the second quarter valued at approximately $38,000. Capital Performance Advisors LLP purchased a new position in Grocery Outlet during the third quarter worth approximately $32,000. Canada Pension Plan Investment Board acquired a new position in Grocery Outlet during the second quarter worth $82,000. Finally, True Wealth Design LLC purchased a new stake in Grocery Outlet in the 3rd quarter valued at $75,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz acquired 110,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the transaction, the director now directly owns 539,785 shares of the company's stock, valued at approximately $9,851,076.25. This represents a 25.59 % 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. 4.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on GO shares. Loop Capital began coverage on shares of Grocery Outlet in a report on Thursday, October 17th. They set a "hold" rating and a $17.00 price target for the company. Melius Research assumed coverage on Grocery Outlet in a research report on Monday, September 23rd. They issued a "hold" rating and a $17.00 target price on the stock. Craig Hallum reduced their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a "hold" rating on the stock in a report on Wednesday, November 6th. UBS Group lowered their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company reduced their price target on shares of Grocery Outlet from $26.00 to $23.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $18.00.

Grocery Outlet Stock Performance

Shares of GO stock traded up $0.13 during midday trading on Friday, hitting $16.73. The company had a trading volume of 2,557,723 shares, compared to its average volume of 1,835,807. Grocery Outlet Holding Corp. has a 52-week low of $13.60 and a 52-week high of $29.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The company's 50 day simple moving average is $17.87 and its 200 day simple moving average is $18.72. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 4.74 and a beta of 0.25.

Grocery Outlet (NASDAQ:GO - Get Free Report) last issued its 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 business had revenue of $1.11 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.25 earnings per share. Research analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

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.