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

Barclays PLC increased its position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 1,224.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 300,393 shares of the company's stock after acquiring an additional 277,706 shares during the period. Barclays PLC owned about 0.31% of Grocery Outlet worth $5,271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of Grocery Outlet by 677.6% in the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company's stock worth $43,832,000 after acquiring an additional 1,726,741 shares during the period. Solel Partners LP purchased a new stake in Grocery Outlet during the 2nd quarter valued at $35,980,000. American Century Companies Inc. lifted its holdings in shares of Grocery Outlet by 889.9% during the 2nd quarter. American Century Companies Inc. now owns 1,010,785 shares of the company's stock valued at $22,359,000 after buying an additional 908,680 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Grocery Outlet by 159.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company's stock worth $21,676,000 after buying an additional 759,697 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Grocery Outlet by 1,891.8% in the second quarter. Victory Capital Management Inc. now owns 743,069 shares of the company's stock worth $16,437,000 after acquiring an additional 705,762 shares during the period. 99.87% of the stock is owned by institutional investors.

Insider Transactions at Grocery Outlet

In other news, Director Erik D. Ragatz bought 110,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the purchase, the director now directly owns 539,785 shares in the company, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GO shares. The Goldman Sachs Group dropped their price objective on shares of Grocery Outlet from $17.00 to $15.00 and set a "sell" rating on the stock in a report on Friday, November 1st. Roth Mkm cut their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased their target price on Grocery Outlet from $29.00 to $26.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Loop Capital began coverage on Grocery Outlet in a report on Thursday, October 17th. They set a "hold" rating and a $17.00 price target for the company. Finally, Bank of America downgraded Grocery Outlet from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $29.00 to $17.00 in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $18.00.

Grocery Outlet Stock Up 0.8 %

GO stock traded up $0.13 during trading on Friday, hitting $16.73. 2,557,723 shares of the company's stock traded hands, compared to its average volume of 1,835,807. The business has a fifty day simple moving average of $17.87 and a two-hundred day simple moving average of $18.72. 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 firm has a market capitalization of $1.63 billion, a P/E ratio of 32.80, a PEG ratio of 4.74 and a beta of 0.25. Grocery Outlet Holding Corp. has a 1 year low of $13.60 and a 1 year high of $29.19.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the business posted $0.25 EPS. Grocery Outlet's revenue was up 10.4% on a year-over-year basis. Sell-side analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

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.