Clearbridge Investments LLC Boosts Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Clearbridge Investments LLC grew its stake in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,158,059 shares of the company's stock after purchasing an additional 272,285 shares during the quarter. Clearbridge Investments LLC owned approximately 3.25% of Grocery Outlet worth $49,297,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GO. Decker Retirement Planning Inc. bought a new stake in Grocery Outlet in the 4th quarter worth about $31,000. KBC Group NV boosted its stake in shares of Grocery Outlet by 62.7% in the 4th 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 last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Grocery Outlet by 472.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the company's stock valued at $76,000 after acquiring an additional 4,040 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Grocery Outlet during the fourth quarter valued at approximately $161,000. Finally, Natixis Advisors LLC bought a new stake in Grocery Outlet during the fourth quarter worth $240,000. Hedge funds and other institutional investors own 99.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GO shares. Telsey Advisory Group decreased their price objective on shares of Grocery Outlet from $18.00 to $16.00 and set a "market perform" rating for the company in a report on Wednesday, February 26th. 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. Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a report on Wednesday, February 26th. Bank of America dropped their price target on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley cut their price target on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research note on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $15.25.

Insiders Place Their Bets

In other news, SVP Lindsay E. Gray sold 2,741 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total value of $31,082.94. Following the completion of the transaction, the senior vice president now directly owns 41,448 shares in the company, valued at approximately $470,020.32. This represents a 6.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven K. Wilson sold 6,477 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total value of $73,449.18. Following the completion of the sale, the executive vice president now owns 173,605 shares of the company's stock, valued at $1,968,680.70. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. Corporate insiders own 4.50% of the company's stock.

Grocery Outlet Price Performance

Grocery Outlet stock traded down $0.19 during midday trading on Friday, reaching $13.70. 5,931,042 shares of the stock were exchanged, compared to its average volume of 2,164,641. The company's fifty day moving average is $14.36 and its 200-day moving average is $16.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $27.65. The firm has a market cap of $1.33 billion, a PE ratio of 26.86, a PEG ratio of 9.08 and a beta of 0.40.

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.