Invesco Ltd. Acquires 83,043 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Invesco Ltd. grew its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 834,373 shares of the company's stock after acquiring an additional 83,043 shares during the period. Invesco Ltd. owned 0.86% of Grocery Outlet worth $13,025,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GO. Decker Retirement Planning Inc. purchased a new stake in shares of Grocery Outlet during the fourth quarter worth $31,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Grocery Outlet during the 4th quarter worth $41,000. Quadrant Capital Group LLC raised its holdings in shares of Grocery Outlet by 276.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company's stock valued at $43,000 after buying an additional 2,036 shares in the last quarter. KBC Group NV lifted its holdings 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 acquiring an additional 1,736 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Grocery Outlet by 472.0% during 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 during the period. 99.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GO has been the subject of a number of research analyst reports. 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. Wells Fargo & Company reduced their price target on shares of Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Bank of America cut their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Telsey Advisory Group decreased their target price on shares of Grocery Outlet from $18.00 to $16.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and raised their target price for the company from $13.00 to $18.00 in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $15.46.

Grocery Outlet Stock Performance

Shares of GO traded down $0.24 during mid-day trading on Friday, hitting $15.60. The stock had a trading volume of 2,719,339 shares, compared to its average volume of 2,285,692. 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 company has a market cap of $1.53 billion, a PE ratio of 30.59, a PEG ratio of 9.08 and a beta of 0.40. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $27.64. The company's fifty day simple moving average is $13.64 and its two-hundred day simple moving average is $15.92.

Insider Buying and Selling at Grocery Outlet

In other news, EVP Steven K. Wilson sold 6,682 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $13.16, for a total value of $87,935.12. Following the completion of the transaction, the executive vice president now directly owns 166,923 shares in the company, valued at $2,196,706.68. This trade represents a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Lindsay E. Gray sold 2,741 shares of the business's stock in a transaction on 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 sale, the senior vice president now directly owns 41,448 shares in the company, valued at $470,020.32. This represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by company insiders.

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.