FMR LLC cut its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 99.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,079 shares of the company's stock after selling 1,313,281 shares during the period. FMR LLC's holdings in Grocery Outlet were worth $72,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. Innealta Capital LLC bought a new stake in Grocery Outlet during the 2nd quarter valued at $38,000. Capital Performance Advisors LLP bought a new stake in Grocery Outlet during the 3rd quarter valued at $32,000. Canada Pension Plan Investment Board purchased a new position in shares of Grocery Outlet in the 2nd quarter valued at $82,000. Finally, CIBC Asset Management Inc bought a new position in shares of Grocery Outlet in the 2nd quarter worth $217,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, Director Erik D. Ragatz purchased 110,000 shares of the stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the transaction, the director now owns 539,785 shares in the company, valued at $9,851,076.25. The trade was a 25.59 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.50% of the company's stock.
Grocery Outlet Price Performance
Shares of NASDAQ GO traded up $0.05 during trading on Wednesday, hitting $15.76. The company had a trading volume of 458,130 shares, compared to its average volume of 1,828,762. Grocery Outlet Holding Corp. has a fifty-two week low of $13.60 and a fifty-two week high of $29.19. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $17.86 and a two-hundred day simple moving average of $18.61. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 4.74 and a beta of 0.25.
Grocery Outlet (NASDAQ:GO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The firm 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%. The business's revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. On average, research analysts expect that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.
Wall Street Analyst Weigh In
Several brokerages have weighed in on GO. UBS Group lowered their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, November 6th. Craig Hallum lowered their price objective 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 decreased their price target for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. Melius Research initiated coverage on Grocery Outlet in a report on Monday, September 23rd. They issued a "hold" rating and a $17.00 price target for the company. Finally, The Goldman Sachs Group cut their price objective on shares of Grocery Outlet from $17.00 to $15.00 and set a "sell" rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Grocery Outlet has an average rating of "Hold" and an average target price of $18.00.
Read Our Latest Stock Report on GO
Grocery Outlet Profile
(
Free Report)
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.
Further Reading
Before you consider Grocery Outlet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Grocery Outlet wasn't on the list.
While Grocery Outlet currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
