Victory Capital Management Inc. Reduces Stock Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Victory Capital Management Inc. lessened its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 892,024 shares of the company's stock after selling 23,095 shares during the quarter. Victory Capital Management Inc. owned about 0.92% of Grocery Outlet worth $13,924,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Decker Retirement Planning Inc. purchased a new position in shares of Grocery Outlet in the 4th quarter worth about $31,000. KBC Group NV increased its stake 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. True Wealth Design LLC purchased a new position in Grocery Outlet in the third quarter worth about $75,000. Proficio Capital Partners LLC bought a new position in shares of Grocery Outlet in the fourth quarter worth approximately $161,000. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Grocery Outlet during the third quarter valued at approximately $227,000. Institutional investors own 99.87% of the company's stock.

Analyst Upgrades and Downgrades

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

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Grocery Outlet Stock Performance

Shares of NASDAQ GO traded down $0.44 during trading on Friday, hitting $11.99. The company had a trading volume of 1,719,211 shares, compared to its average volume of 2,050,070. Grocery Outlet Holding Corp. has a 12 month low of $10.26 and a 12 month high of $29.13. 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 firm has a market capitalization of $1.17 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 9.08 and a beta of 0.36. The stock has a 50 day simple moving average of $15.25 and a 200 day simple moving average of $16.61.

Insiders Place Their Bets

In related news, EVP Steven K. Wilson sold 6,682 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $13.16, for a total transaction of $87,935.12. Following the completion of the sale, the executive vice president now owns 166,923 shares in the company, valued at approximately $2,196,706.68. This trade represents a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Erik D. Ragatz acquired 165,000 shares of the business's stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $12.25 per share, with a total value of $2,021,250.00. Following the completion of the acquisition, the director now owns 201,500 shares in the company, valued at approximately $2,468,375. This represents a 452.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. 4.50% of the stock is owned by company insiders.

Grocery Outlet Company 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.