EVR Research LP Sells 655,000 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

EVR Research LP lessened its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 70.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 275,000 shares of the company's stock after selling 655,000 shares during the period. Grocery Outlet comprises about 1.4% of EVR Research LP's portfolio, making the stock its 22nd largest holding. EVR Research LP owned 0.28% of Grocery Outlet worth $4,293,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Captrust Financial Advisors acquired a new position in Grocery Outlet in the 3rd quarter worth approximately $391,000. State Street Corp grew its holdings in shares of Grocery Outlet by 0.6% during the third quarter. State Street Corp now owns 3,407,152 shares of the company's stock valued at $59,796,000 after buying an additional 21,237 shares in the last quarter. Jane Street Group LLC raised its position in Grocery Outlet by 357.7% during the third quarter. Jane Street Group LLC now owns 519,542 shares of the company's stock valued at $9,118,000 after buying an additional 406,039 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Grocery Outlet in the 3rd quarter worth about $511,000. Finally, Barclays PLC increased its holdings in shares of Grocery Outlet by 1,224.1% in the 3rd quarter. Barclays PLC now owns 300,393 shares of the company's stock valued at $5,271,000 after purchasing an additional 277,706 shares during the period. 99.87% of the stock is owned by institutional investors and hedge funds.

Grocery Outlet Stock Up 4.2 %

Grocery Outlet stock traded up $0.62 during midday trading on Thursday, reaching $15.26. The stock had a trading volume of 1,431,234 shares, compared to its average volume of 2,226,744. Grocery Outlet Holding Corp. has a 1-year low of $10.26 and a 1-year high of $27.64. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The firm's fifty day simple moving average is $13.80 and its 200-day simple moving average is $15.96. The stock has a market capitalization of $1.50 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 9.08 and a beta of 0.40.

Wall Street Analyst Weigh In

GO has been the topic of several analyst reports. Bank of America dropped their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group reduced their price target on Grocery Outlet from $14.00 to $11.00 and set a "sell" rating for the company in a research report on Thursday, February 27th. Jefferies Financial Group raised Grocery Outlet from a "hold" rating to a "buy" rating and raised their price objective for the company from $13.00 to $18.00 in a research note on Wednesday. Morgan Stanley lowered their price target on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price target on the stock. in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Grocery Outlet has a consensus rating of "Hold" and a consensus price target of $15.46.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz purchased 165,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $12.25 per share, for a total transaction of $2,021,250.00. Following the purchase, the director now owns 201,500 shares in the company, valued at approximately $2,468,375. The trade was a 452.05 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Christopher M. Miller acquired 10,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares of the company's stock, valued at approximately $116,800. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, 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 Company 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.