Federated Hermes Inc. Sells 200,000 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Federated Hermes Inc. decreased its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 27.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 540,000 shares of the company's stock after selling 200,000 shares during the quarter. Federated Hermes Inc. owned approximately 0.56% of Grocery Outlet worth $8,429,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its holdings in Grocery Outlet by 1,224.1% during the 3rd quarter. Barclays PLC now owns 300,393 shares of the company's stock worth $5,271,000 after purchasing an additional 277,706 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Grocery Outlet by 357.7% in the third quarter. Jane Street Group LLC now owns 519,542 shares of the company's stock worth $9,118,000 after buying an additional 406,039 shares in the last quarter. Choreo LLC bought a new position in shares of Grocery Outlet in the fourth quarter valued at approximately $245,000. Y Intercept Hong Kong Ltd bought a new position in shares of Grocery Outlet in the third quarter valued at approximately $511,000. Finally, New York State Common Retirement Fund grew its stake in Grocery Outlet by 124.7% during 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. 99.87% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Steven K. Wilson sold 6,682 shares of Grocery Outlet stock in a transaction 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 transaction, the executive vice president now directly owns 166,923 shares of the company's stock, valued at $2,196,706.68. The trade was a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Erik D. Ragatz purchased 165,000 shares of the company's stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $12.25 per share, with a total value of $2,021,250.00. Following the transaction, the director now directly owns 201,500 shares in the company, valued at $2,468,375. This trade represents a 452.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 200,000 shares of company stock valued at $2,435,050 and sold 17,756 shares valued at $216,892. 4.50% of the stock is currently owned by corporate insiders.

Grocery Outlet Trading Up 6.6 %

NASDAQ:GO traded up $0.91 during trading hours on Wednesday, reaching $14.81. The company's stock had a trading volume of 854,909 shares, compared to its average volume of 2,218,186. The firm has a 50-day simple moving average of $13.84 and a 200-day simple moving average of $15.97. Grocery Outlet Holding Corp. has a 1 year low of $10.26 and a 1 year high of $27.64. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 9.08 and a beta of 0.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

Wall Street Analyst Weigh In

Several research analysts have commented on GO shares. Wells Fargo & Company cut their price target 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. Morgan Stanley dropped their price objective 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. Telsey Advisory Group decreased their target price on 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. Jefferies Financial Group upgraded 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 report on Wednesday. Finally, 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 report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Grocery Outlet presently has a consensus rating of "Hold" and an average target price of $15.46.

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.