Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Sold by Jackson Square Partners LLC

Jackson Square Partners LLC reduced its position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 11.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,112,096 shares of the company's stock after selling 285,268 shares during the quarter. Grocery Outlet comprises approximately 3.5% of Jackson Square Partners LLC's investment portfolio, making the stock its 5th largest position. Jackson Square Partners LLC owned about 2.17% of Grocery Outlet worth $32,970,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GO. State Street Corp grew its stake in shares of Grocery Outlet by 0.6% in the third quarter. State Street Corp now owns 3,407,152 shares of the company's stock worth $59,796,000 after acquiring an additional 21,237 shares in the last quarter. Boston Partners grew its holdings in shares of Grocery Outlet by 48.5% during the fourth quarter. Boston Partners now owns 1,395,238 shares of the company's stock worth $21,776,000 after buying an additional 455,893 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Grocery Outlet by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,631 shares of the company's stock worth $20,428,000 after buying an additional 138,161 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Grocery Outlet by 159.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company's stock valued at $21,676,000 after buying an additional 759,697 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of Grocery Outlet by 357.7% in the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company's stock worth $9,118,000 after acquiring an additional 406,039 shares during the period. 99.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GO has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research note on Wednesday, February 26th. Bank of America lowered their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company reduced their target price on Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Telsey Advisory Group decreased their price target on Grocery Outlet from $18.00 to $16.00 and set a "market perform" rating for the company in a research note on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price for the company. in a research note on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.25.

Insider Activity

In related news, EVP Steven K. Wilson sold 6,477 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total value of $73,449.18. Following the completion of the transaction, the executive vice president now directly owns 173,605 shares of the company's stock, valued at approximately $1,968,680.70. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher M. Miller purchased 10,000 shares of Grocery Outlet stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $11.68 per share, with a total value of $116,800.00. Following the acquisition, the chief financial officer now directly owns 10,000 shares of the company's stock, valued at $116,800. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 200,000 shares of company stock valued at $2,435,050 and have sold 17,756 shares valued at $216,892. Insiders own 4.50% of the company's stock.

Grocery Outlet Price Performance

Shares of GO stock traded up $0.28 during trading hours on Friday, hitting $13.25. 2,321,839 shares of the company's stock were exchanged, compared to its average volume of 2,121,745. The stock's 50-day moving average is $14.55 and its 200-day moving average is $16.23. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 9.08 and a beta of 0.36. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $28.98.

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.