Geode Capital Management LLC Decreases Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Geode Capital Management LLC lowered its position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 1.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,583,666 shares of the company's stock after selling 30,216 shares during the period. Geode Capital Management LLC owned 1.63% of Grocery Outlet worth $24,730,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GO. Barclays PLC boosted its holdings in shares of Grocery Outlet by 1,224.1% during the 3rd quarter. Barclays PLC now owns 300,393 shares of the company's stock valued at $5,271,000 after acquiring an additional 277,706 shares during the last quarter. Choreo LLC purchased a new position in shares of Grocery Outlet during the 4th quarter valued at $245,000. New York State Common Retirement Fund lifted its position in shares of Grocery Outlet by 124.7% in the fourth quarter. New York State Common Retirement Fund now owns 88,350 shares of the company's stock valued at $1,379,000 after acquiring an additional 49,035 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Grocery Outlet in the 4th quarter worth approximately $1,079,000. Finally, SG Americas Securities LLC bought a new position in shares of Grocery Outlet during the fourth quarter worth $658,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley dropped 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. The Goldman Sachs Group dropped their price target on shares of Grocery Outlet from $14.00 to $11.00 and set a "sell" rating for the company in a research note on Thursday, February 27th. Bank of America reduced their target price on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Jefferies Financial Group raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and lifted their price target for the company from $13.00 to $18.00 in a research note on Wednesday. Finally, Wells Fargo & Company cut their price objective 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $15.46.

Grocery Outlet Trading Up 3.6 %

Grocery Outlet stock opened at $15.16 on Friday. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 9.08 and a beta of 0.40. The stock has a 50-day moving average price of $13.72 and a 200 day moving average price of $15.93. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $27.64. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

Insider Buying and Selling at Grocery Outlet

In other news, Director Erik D. Ragatz bought 165,000 shares of Grocery Outlet stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $12.25 per share, with a total value of $2,021,250.00. Following the completion of the acquisition, the director now directly owns 201,500 shares of the company's stock, valued at $2,468,375. The trade was a 452.05 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Lindsay E. Gray sold 2,741 shares of the firm's stock in a transaction dated 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 directly owns 41,448 shares in the company, valued at approximately $470,020.32. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 200,000 shares of company stock worth $2,435,050 and 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.

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