First Eagle Investment Management LLC Raises Stake in Grocery Outlet Holding Corp. (NASDAQ:GO)

First Eagle Investment Management LLC boosted its position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 112.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 474,000 shares of the company's stock after purchasing an additional 251,000 shares during the period. First Eagle Investment Management LLC owned 0.49% of Grocery Outlet worth $7,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Amundi increased its position in shares of Grocery Outlet by 0.6% during the fourth quarter. Amundi now owns 116,139 shares of the company's stock worth $1,895,000 after buying an additional 719 shares during the period. PNC Financial Services Group Inc. lifted its stake 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 buying an additional 4,040 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Grocery Outlet during the fourth quarter valued at about $1,079,000. Aigen Investment Management LP bought a new position in shares of Grocery Outlet during the fourth quarter valued at about $334,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Grocery Outlet during the fourth quarter valued at about $161,000. Institutional investors and hedge funds own 99.87% of the company's stock.

Insider Activity at Grocery Outlet

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

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Grocery Outlet Trading Up 0.6 %

Shares of GO traded up $0.08 during mid-day trading on Thursday, reaching $12.63. The company's stock had a trading volume of 1,500,668 shares, compared to its average volume of 2,042,371. The stock has a market cap of $1.23 billion, a PE ratio of 24.77, a P/E/G ratio of 9.08 and a beta of 0.36. 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 Holding Corp. has a 52 week low of $10.26 and a 52 week high of $29.13. The company's fifty day moving average price is $15.04 and its two-hundred day moving average price is $16.46.

Wall Street Analyst Weigh In

GO has been the subject of several recent research reports. Morgan Stanley reduced their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research note on Wednesday, February 26th. Bank of America reduced their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Telsey Advisory Group reduced 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 research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their target price on shares of Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $15.25.

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.