Capital World Investors Lowers Stock Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Capital World Investors reduced its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 32.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,973,738 shares of the company's stock after selling 1,404,867 shares during the period. Capital World Investors owned approximately 3.06% of Grocery Outlet worth $46,420,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Grocery Outlet by 1,224.1% during the third quarter. Barclays PLC now owns 300,393 shares of the company's stock worth $5,271,000 after buying an additional 277,706 shares during the last quarter. Sterling Capital Management LLC grew its position in Grocery Outlet by 53.9% during the 4th quarter. Sterling Capital Management LLC now owns 5,808 shares of the company's stock worth $91,000 after acquiring an additional 2,034 shares during the last quarter. Choreo LLC acquired a new position in Grocery Outlet in the 4th quarter worth about $245,000. New York State Common Retirement Fund raised its position in 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 purchasing an additional 49,035 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Grocery Outlet during the fourth quarter valued at about $1,079,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Grocery Outlet news, Director Erik D. Ragatz bought 165,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $12.25 per share, with a total value of $2,021,250.00. Following the completion of the transaction, the director now directly owns 201,500 shares in the company, valued at approximately $2,468,375. The trade was a 452.05 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Steven K. Wilson sold 6,477 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total transaction of $73,449.18. Following the completion of the transaction, the executive vice president now directly owns 173,605 shares in the company, valued at approximately $1,968,680.70. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 200,000 shares of company stock worth $2,435,050 and sold 17,756 shares worth $216,892. Corporate insiders own 4.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Jefferies Financial Group raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and raised their price target for the company from $13.00 to $18.00 in a research note on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price objective on the stock. in a research note on Wednesday, February 26th. Morgan Stanley lowered their target price on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research report on Wednesday, February 26th. Finally, Telsey Advisory Group reduced their price target on Grocery Outlet from $18.00 to $16.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Grocery Outlet currently has an average rating of "Hold" and a consensus price target of $15.46.

Grocery Outlet Trading Down 0.9 %

GO traded down $0.15 during trading on Friday, hitting $15.69. The company's stock had a trading volume of 4,094,252 shares, compared to its average volume of 2,295,824. The stock's fifty day moving average price is $13.63 and its 200-day moving average price is $15.91. The firm has a market capitalization of $1.54 billion, a P/E ratio of 30.77, a PEG ratio of 9.08 and a beta of 0.40. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. Grocery Outlet Holding Corp. has a twelve month low of $10.26 and a twelve month high of $27.36.

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.