KLP Kapitalforvaltning AS Makes New $326,000 Investment in Grocery Outlet Holding Corp. (NASDAQ:GO)

KLP Kapitalforvaltning AS purchased a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 20,900 shares of the company's stock, valued at approximately $326,000.

A number of other large investors have also made changes to their positions in the company. Decker Retirement Planning Inc. purchased a new stake in shares of Grocery Outlet during the fourth quarter worth about $31,000. KBC Group NV grew its holdings in Grocery Outlet by 62.7% during the 4th quarter. KBC Group NV now owns 4,506 shares of the company's stock valued at $70,000 after buying an additional 1,736 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of 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 last quarter. Proficio Capital Partners LLC bought a new stake in shares of Grocery Outlet during the fourth quarter valued at approximately $161,000. Finally, Natixis Advisors LLC purchased a new position in shares of Grocery Outlet in the fourth quarter worth $240,000. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Trading Up 2.5 %

Shares of Grocery Outlet stock traded up $0.35 during trading on Thursday, hitting $14.21. The stock had a trading volume of 3,126,833 shares, compared to its average volume of 2,196,021. The stock has a market cap of $1.39 billion, a PE ratio of 27.86, a PEG ratio of 9.08 and a beta of 0.40. Grocery Outlet Holding Corp. has a 12 month low of $10.26 and a 12 month high of $27.65. The firm's fifty day simple moving average is $14.03 and its 200-day simple moving average is $16.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33.

Analysts Set New Price Targets

A number of brokerages have issued reports on GO. The Goldman Sachs Group reduced their price target on shares of Grocery Outlet from $14.00 to $11.00 and set a "sell" rating on the stock in a report on Thursday, February 27th. Morgan Stanley reduced their target price on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a report on Wednesday, February 26th. Telsey Advisory Group dropped 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. Deutsche Bank Aktiengesellschaft downgraded 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. Finally, Bank of America lowered their target price on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $15.25.

Insiders Place Their Bets

In related news, CFO Christopher M. Miller bought 10,000 shares of the company's stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $11.68 per share, for a total transaction of $116,800.00. Following the purchase, the chief financial officer now directly owns 10,000 shares of the company's stock, valued at approximately $116,800. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Lindsay E. Gray sold 2,741 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 owns 41,448 shares of the company's stock, valued at $470,020.32. The trade was a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 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 owned by 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.