Headlands Technologies LLC Takes $248,000 Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Headlands Technologies LLC purchased a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) during the second quarter, HoldingsChannel reports. The fund purchased 11,193 shares of the company’s stock, valued at approximately $248,000.

Other hedge funds have also bought and sold shares of the company. Natixis Advisors L.P. bought a new position in Grocery Outlet during the 4th quarter worth $291,000. Charles Schwab Investment Management Inc. increased its position in shares of Grocery Outlet by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 879,116 shares of the company’s stock worth $23,701,000 after purchasing an additional 38,506 shares during the period. Teacher Retirement System of Texas raised its stake in Grocery Outlet by 26.1% in the fourth quarter. Teacher Retirement System of Texas now owns 20,505 shares of the company’s stock valued at $553,000 after purchasing an additional 4,244 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Grocery Outlet by 100.3% during the fourth quarter. BNP Paribas Financial Markets now owns 221,936 shares of the company’s stock worth $5,983,000 after purchasing an additional 111,129 shares during the period. Finally, Jump Financial LLC grew its stake in Grocery Outlet by 12.5% during the fourth quarter. Jump Financial LLC now owns 43,181 shares of the company’s stock worth $1,164,000 after buying an additional 4,805 shares in the last quarter. 99.87% of the stock is owned by institutional investors.

Grocery Outlet Trading Up 1.0 %

NASDAQ GO opened at $16.44 on Friday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 3.16 and a beta of 0.10. Grocery Outlet Holding Corp. has a twelve month low of $16.06 and a twelve month high of $30.33. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The business’s fifty day moving average is $19.18 and its 200 day moving average is $22.62.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, sell-side analysts expect that Grocery Outlet Holding Corp. will post 0.68 EPS for the current fiscal year.

Analyst Ratings Changes

GO has been the subject of several analyst reports. Telsey Advisory Group dropped their target price on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Roth Mkm cut their target price on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Craig Hallum downgraded Grocery Outlet from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $20.00 in a report on Wednesday, July 31st. Wells Fargo & Company started coverage on Grocery Outlet in a report on Thursday, July 18th. They set an “overweight” rating and a $28.00 price target for the company. Finally, UBS Group reduced their price objective on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.75.

Insiders Place Their Bets

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $18.44, for a total value of $1,844,000.00. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at $1,308,096.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 300,000 shares of company stock valued at $5,617,000 in the last ninety days. 4.50% of the stock is currently owned by 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.