Point72 DIFC Ltd Makes New $566,000 Investment in Grocery Outlet Holding Corp. (NASDAQ:GO)

Point72 DIFC Ltd purchased a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 32,262 shares of the company's stock, valued at approximately $566,000.

A number of other large investors also recently modified their holdings of the business. Blue Trust Inc. grew its stake in shares of Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock valued at $29,000 after buying an additional 722 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Grocery Outlet in the 2nd quarter valued at about $38,000. Capital Performance Advisors LLP acquired a new position in shares of Grocery Outlet during the 3rd quarter worth about $32,000. Canada Pension Plan Investment Board bought a new stake in shares of Grocery Outlet in the 2nd quarter valued at about $82,000. Finally, True Wealth Design LLC acquired a new stake in Grocery Outlet in the 3rd quarter valued at about $75,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Grocery Outlet Trading Up 1.9 %

NASDAQ:GO traded up $0.35 during mid-day trading on Friday, hitting $19.12. 1,576,889 shares of the company's stock were exchanged, compared to its average volume of 2,131,723. The company has a 50 day simple moving average of $17.56 and a 200-day simple moving average of $19.02. The firm has a market capitalization of $1.86 billion, a P/E ratio of 37.49, a PEG ratio of 4.95 and a beta of 0.25. Grocery Outlet Holding Corp. has a fifty-two week low of $13.60 and a fifty-two week high of $29.80. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34.

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

Insider Buying and Selling at Grocery Outlet

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

Analysts Set New Price Targets

A number of research firms have commented on GO. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Grocery Outlet from $29.00 to $26.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. UBS Group reduced their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, November 6th. Melius Research began coverage on shares of Grocery Outlet in a report on Monday, September 23rd. They issued a "hold" rating and a $17.00 price target on the stock. Craig Hallum cut their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a "hold" rating for the company in a research report on Wednesday, November 6th. Finally, Telsey Advisory Group decreased their target price on Grocery Outlet from $19.00 to $18.00 and set a "market perform" rating on the stock in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $18.00.

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.