Point72 Asset Management L.P. Has $21.68 Million Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Point72 Asset Management L.P. increased its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 159.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,235,078 shares of the company's stock after purchasing an additional 759,697 shares during the period. Point72 Asset Management L.P. owned approximately 1.27% of Grocery Outlet worth $21,676,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GO. Blue Trust Inc. boosted its position in shares of Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock worth $29,000 after purchasing an additional 722 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Grocery Outlet during the third quarter worth about $32,000. Innealta Capital LLC purchased a new position in Grocery Outlet in the second quarter valued at about $38,000. True Wealth Design LLC purchased a new position in Grocery Outlet in the third quarter valued at about $75,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Grocery Outlet during the 2nd quarter valued at approximately $82,000. Institutional investors and hedge funds own 99.87% of the company's stock.

Grocery Outlet Stock Up 1.9 %

Shares of NASDAQ:GO traded up $0.35 during trading on Friday, hitting $19.12. The company's stock had a trading volume of 1,565,596 shares, compared to its average volume of 1,851,500. Grocery Outlet Holding Corp. has a fifty-two week low of $13.60 and a fifty-two week high of $29.80. The stock's 50-day moving average price is $17.53 and its two-hundred day moving average price is $19.04. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The company has a market capitalization of $1.86 billion, a PE ratio of 36.80, a PEG ratio of 4.98 and a beta of 0.25.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The firm's quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. As a group, sell-side analysts expect that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GO. Melius Research initiated coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They set a "hold" rating and a $17.00 target price for the company. Craig Hallum cut their price objective on Grocery Outlet from $20.00 to $17.00 and set a "hold" rating for the company in a research report on Wednesday, November 6th. TD Cowen lowered Grocery Outlet from a "buy" rating to a "hold" rating and reduced their target price for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. UBS Group dropped their price target on Grocery Outlet from $21.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, November 6th. Finally, Loop Capital started coverage on Grocery Outlet in a research report on Thursday, October 17th. They issued a "hold" rating and a $17.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.00.

Insider Buying and Selling

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