Charles Schwab Investment Management Inc. Acquires 147,312 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Charles Schwab Investment Management Inc. increased its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 14.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,170,470 shares of the company's stock after buying an additional 147,312 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.20% of Grocery Outlet worth $20,542,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Grocery Outlet during the second quarter valued at about $38,000. Capital Performance Advisors LLP bought a new stake in shares of Grocery Outlet during the third quarter worth about $32,000. Arizona State Retirement System increased its stake in shares of Grocery Outlet by 7.2% in the second quarter. Arizona State Retirement System now owns 27,779 shares of the company's stock valued at $614,000 after buying an additional 1,862 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Grocery Outlet by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,616 shares of the company's stock valued at $1,544,000 after buying an additional 2,968 shares during the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. The trade was a 73.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Erik D. Ragatz bought 110,000 shares of the company's stock in a transaction on Friday, November 15th. The shares were bought at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the transaction, the director now 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 disclosure for this purchase can be found here. 4.50% of the stock is currently owned by insiders.

Grocery Outlet Stock Up 1.9 %

Shares of GO traded up $0.35 during trading hours on Friday, reaching $19.12. 1,576,889 shares of the stock traded hands, compared to its average volume of 2,131,723. Grocery Outlet Holding Corp. has a 52 week low of $13.60 and a 52 week high of $29.80. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 4.95 and a beta of 0.25. The stock has a fifty day simple moving average of $17.56 and a 200 day simple moving average of $19.02. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34.

Grocery Outlet (NASDAQ:GO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. Grocery Outlet's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. On average, equities analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GO shares. Craig Hallum lowered their target price on Grocery Outlet from $20.00 to $17.00 and set a "hold" rating for the company in a research report on Wednesday, November 6th. TD Cowen cut Grocery Outlet from a "buy" rating to a "hold" rating and reduced their target price for the company from $25.00 to $16.00 in a report on Wednesday, November 6th. Wells Fargo & Company dropped 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 report on Wednesday, November 6th. UBS Group decreased their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group cut their price target on shares of Grocery Outlet from $17.00 to $15.00 and set a "sell" rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Grocery Outlet presently has a consensus rating of "Hold" and an average target price of $18.00.

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.