Raymond James Financial Inc. Takes Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Raymond James Financial Inc. acquired a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 69,095 shares of the company's stock, valued at approximately $1,079,000. Raymond James Financial Inc. owned approximately 0.07% of Grocery Outlet at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Decker Retirement Planning Inc. acquired a new stake in shares of Grocery Outlet during the 4th quarter worth about $31,000. KBC Group NV increased 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 purchasing an additional 1,736 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Grocery Outlet in the fourth quarter worth $161,000. Choreo LLC bought a new stake in shares of Grocery Outlet during the fourth quarter worth $245,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Grocery Outlet in the third quarter valued at $272,000. 99.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price objective on the stock. in a research report on Wednesday, February 26th. Telsey Advisory Group lowered their price objective on Grocery Outlet from $18.00 to $16.00 and set a "market perform" rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company cut their target price on shares of Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Bank of America lowered their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Finally, Morgan Stanley cut their price objective on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $15.25.

Insider Transactions at Grocery Outlet

In other news, SVP Lindsay E. Gray sold 2,741 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total value of $31,082.94. Following the sale, the senior vice president now directly owns 41,448 shares in the company, valued at $470,020.32. The trade was a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Steven K. Wilson sold 6,477 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total value of $73,449.18. Following the transaction, the executive vice president now directly owns 173,605 shares of the company's stock, valued at $1,968,680.70. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 200,000 shares of company stock valued at $2,435,050 and have sold 17,756 shares valued at $216,892. 4.50% of the stock is currently owned by insiders.

Grocery Outlet Trading Down 2.6 %

Shares of GO traded down $0.36 during trading hours on Tuesday, reaching $13.48. The stock had a trading volume of 3,149,335 shares, compared to its average volume of 2,182,988. The company has a market cap of $1.31 billion, a P/E ratio of 26.43, a P/E/G ratio of 9.08 and a beta of 0.40. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $27.65. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average of $14.17 and a 200 day moving average of $16.08.

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.