Charles Schwab Investment Management Inc. Raises Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Charles Schwab Investment Management Inc. grew its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,308,631 shares of the company's stock after acquiring an additional 138,161 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.35% of Grocery Outlet worth $20,428,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Franklin Resources Inc. increased its stake in shares of Grocery Outlet by 1.8% in the third quarter. Franklin Resources Inc. now owns 29,987 shares of the company's stock worth $526,000 after buying an additional 529 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Grocery Outlet by 2.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company's stock worth $732,000 after buying an additional 1,240 shares during the period. KBC Group NV increased its stake in shares of Grocery Outlet by 62.7% in the fourth 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. Decker Retirement Planning Inc. purchased a new position in shares of Grocery Outlet in the fourth quarter worth $31,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Grocery Outlet by 1.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 290,036 shares of the company's stock worth $5,090,000 after buying an additional 4,107 shares during the period. 99.87% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several brokerages recently commented on GO. Wells Fargo & Company decreased 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. Morgan Stanley cut their price target 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. The Goldman Sachs Group cut their price target on shares of Grocery Outlet from $14.00 to $11.00 and set a "sell" rating on the stock in a report on Thursday, February 27th. Telsey Advisory Group cut their price target on shares of Grocery Outlet from $18.00 to $16.00 and set a "market perform" rating on the stock in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price target on the stock. in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $15.25.

Insider Activity

In related news, EVP Steven K. Wilson sold 6,682 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $13.16, for a total value of $87,935.12. Following the transaction, the executive vice president now owns 166,923 shares in the company, valued at $2,196,706.68. The trade was a 3.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher M. Miller purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the purchase, the chief financial officer now owns 10,000 shares in the company, valued at $116,800. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. Company insiders own 4.50% of the company's stock.

Grocery Outlet Stock Up 0.4 %

Shares of GO stock traded up $0.05 during mid-day trading on Friday, reaching $12.68. 3,251,382 shares of the company's stock traded hands, compared to its average volume of 2,052,617. Grocery Outlet Holding Corp. has a 12 month low of $10.26 and a 12 month high of $29.13. The company has a market cap of $1.23 billion, a P/E ratio of 24.86, a P/E/G ratio of 9.08 and a beta of 0.36. 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 company's 50-day moving average price is $14.89 and its 200-day moving average price is $16.38.

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.