Wealth Enhancement Advisory Services LLC Invests $801,000 in Grocery Outlet Holding Corp. (NASDAQ:GO)

Wealth Enhancement Advisory Services LLC acquired a new position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 45,635 shares of the company's stock, valued at approximately $801,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Grocery Outlet in the 1st quarter valued at about $25,000. Blue Trust Inc. raised its stake in shares of Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Grocery Outlet in the 2nd quarter valued at about $38,000. Canada Pension Plan Investment Board acquired a new stake in shares of Grocery Outlet in the 2nd quarter valued at about $82,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Grocery Outlet in the 1st quarter valued at about $127,000. Institutional investors and hedge funds own 99.87% of the company's stock.

Grocery Outlet Stock Up 6.7 %

Grocery Outlet stock traded up $1.08 during trading hours on Thursday, hitting $17.19. The company had a trading volume of 4,255,923 shares, compared to its average volume of 1,832,124. The firm has a market capitalization of $1.68 billion, a P/E ratio of 33.63, a price-to-earnings-growth ratio of 3.42 and a beta of 0.13. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29. The firm's fifty day moving average is $16.59 and its 200-day moving average is $19.72. Grocery Outlet Holding Corp. has a fifty-two week low of $13.60 and a fifty-two week high of $29.98.

Grocery Outlet (NASDAQ:GO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the firm earned $0.25 EPS. The business's revenue was up 10.4% on a year-over-year basis. On average, research analysts forecast that Grocery Outlet Holding Corp. will post 0.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GO. Craig Hallum lowered 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. Telsey Advisory Group lowered their price objective on shares of Grocery Outlet from $19.00 to $18.00 and set a "market perform" rating for the company in a research report on Wednesday. Wells Fargo & Company decreased their target price on shares of Grocery Outlet from $26.00 to $23.00 and set an "overweight" rating for the company in a research report on Wednesday. Melius Research began coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They issued a "hold" rating and a $17.00 target price for the company. Finally, The Goldman Sachs Group decreased their target price on shares of Grocery Outlet from $17.00 to $15.00 and set a "sell" rating for the company in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $18.17.

Insider Transactions at Grocery Outlet

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the transaction, the director now directly owns 70,938 shares of the company's stock, valued at $1,340,728.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the transaction, the director now directly owns 70,938 shares of the company's stock, valued at $1,340,728.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction dated 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 directly owns 70,938 shares of the company's stock, valued at $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. In the last three months, insiders sold 500,095 shares of company stock valued at $8,876,548. Company insiders own 4.50% of the company's stock.

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.