Jane Street Group LLC Grows Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Jane Street Group LLC raised its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 357.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 519,542 shares of the company's stock after buying an additional 406,039 shares during the period. Jane Street Group LLC owned about 0.53% of Grocery Outlet worth $9,118,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock valued at $29,000 after buying an additional 722 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Grocery Outlet during the third quarter valued at about $32,000. Innealta Capital LLC purchased a new stake in shares of Grocery Outlet during the second quarter worth about $38,000. True Wealth Design LLC purchased a new stake in shares of Grocery Outlet during the third quarter worth about $75,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Grocery Outlet in the second quarter worth about $82,000. Hedge funds and other institutional investors own 99.87% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GO shares. Telsey Advisory Group dropped their price objective on Grocery Outlet from $19.00 to $18.00 and set a "market perform" rating for the company in a report on Wednesday, November 6th. Loop Capital began coverage on Grocery Outlet in a research note on Thursday, October 17th. They issued a "hold" rating and a $17.00 price target for the company. Wells Fargo & Company cut their price target on shares of Grocery Outlet from $26.00 to $23.00 and set an "overweight" rating on the stock in a report on Wednesday, November 6th. Craig Hallum decreased their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a "hold" rating for the company in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Grocery Outlet from $29.00 to $26.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $18.00.

Grocery Outlet Stock Down 0.3 %

Shares of NASDAQ GO traded down $0.06 on Friday, reaching $19.11. 1,214,423 shares of the company's stock traded hands, compared to its average volume of 1,835,778. The business's 50 day simple moving average is $17.80 and its two-hundred day simple moving average is $18.89. Grocery Outlet Holding Corp. has a 12 month low of $13.60 and a 12 month high of $29.80. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 37.47, a price-to-earnings-growth ratio of 4.74 and a beta of 0.25. 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 (NASDAQ:GO - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Grocery Outlet news, Director Erik D. Ragatz acquired 110,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the acquisition, the director now owns 539,785 shares of the company's stock, valued at $9,851,076.25. This represents a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the business's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now directly owns 70,938 shares of the company's stock, valued at approximately $1,155,580.02. This trade represents a 73.83 % decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

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.