Algert Global LLC Cuts Stake in Grocery Outlet Holding Corp. (NASDAQ:GO)

Algert Global LLC trimmed its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 88.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,983 shares of the company's stock after selling 74,787 shares during the period. Algert Global LLC's holdings in Grocery Outlet were worth $221,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Grocery Outlet by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company's stock valued at $268,628,000 after buying an additional 60,830 shares during the period. 12 West Capital Management LP raised its position in shares of Grocery Outlet by 383.3% during the first quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company's stock valued at $104,328,000 after buying an additional 2,875,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Grocery Outlet by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company's stock worth $79,933,000 after buying an additional 655,065 shares in the last quarter. Capital World Investors boosted its holdings in Grocery Outlet by 281.4% during the first quarter. Capital World Investors now owns 3,579,683 shares of the company's stock valued at $103,023,000 after purchasing an additional 2,641,016 shares in the last quarter. Finally, Van Berkom & Associates Inc. grew its position in Grocery Outlet by 21.1% in the second quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company's stock valued at $77,388,000 after acquiring an additional 609,871 shares during the period. 99.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm's stock in a transaction that occurred on 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 transaction, the director now owns 70,938 shares in the company, valued at $1,155,580.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the transaction, the director now owns 70,938 shares of the company's stock, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares of the company's stock, valued at approximately $1,155,580.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 500,095 shares of company stock valued at $8,876,548 over the last ninety days. 4.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GO has been the topic of a number of recent research reports. Craig Hallum cut shares of Grocery Outlet from a "buy" rating to a "hold" rating and reduced their price objective for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. UBS Group decreased their price objective on Grocery Outlet from $27.00 to $21.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Melius Research started coverage on shares of Grocery Outlet in a report on Monday, September 23rd. They set a "hold" rating and a $17.00 target price on the stock. Telsey Advisory Group decreased their price target on shares of Grocery Outlet from $31.00 to $27.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company assumed coverage on Grocery Outlet in a research report on Thursday, July 18th. They set an "overweight" rating and a $28.00 price target for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $22.11.

Grocery Outlet Price Performance

Shares of NASDAQ:GO traded up $0.34 during midday trading on Friday, hitting $16.06. The stock had a trading volume of 3,146,907 shares, compared to its average volume of 1,757,039. The company's 50-day moving average price is $17.63 and its 200-day moving average price is $21.26. The company has a market capitalization of $1.57 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 3.10 and a beta of 0.10. Grocery Outlet Holding Corp. has a fifty-two week low of $15.18 and a fifty-two week high of $29.98. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.05. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the company posted $0.23 EPS. The firm's quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts predict that Grocery Outlet Holding Corp. will post 0.68 EPS for the current fiscal year.

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.