Lombard Odier Asset Management Europe Ltd Lowers Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Lombard Odier Asset Management Europe Ltd decreased its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 10.1% in the 2nd quarter, Holdings Channel reports. The firm owned 27,108 shares of the company’s stock after selling 3,044 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Grocery Outlet were worth $600,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. 12 West Capital Management LP lifted its stake in Grocery Outlet by 383.3% during the first quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock worth $104,328,000 after purchasing an additional 2,875,000 shares during the last quarter. Capital World Investors raised its holdings in shares of Grocery Outlet by 281.4% during the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after buying an additional 2,641,016 shares in the last quarter. Norges Bank bought a new stake in Grocery Outlet in the 4th quarter worth approximately $24,588,000. American Century Companies Inc. boosted its stake in Grocery Outlet by 889.9% in the second quarter. American Century Companies Inc. now owns 1,010,785 shares of the company’s stock worth $22,359,000 after buying an additional 908,680 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Grocery Outlet by 1,891.8% during the second quarter. Victory Capital Management Inc. now owns 743,069 shares of the company’s stock worth $16,437,000 after acquiring an additional 705,762 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors.

Insider Transactions at Grocery Outlet

In other 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 sale, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction on Friday, August 16th. The stock was 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 owns 70,938 shares in the company, valued at $1,340,728.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at $1,155,580.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 500,095 shares of company stock valued at $8,876,548. Corporate insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GO. Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Craig Hallum lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and cut their price target for the company from $32.00 to $20.00 in a research report on Wednesday, July 31st. Wells Fargo & Company initiated coverage on Grocery Outlet in a report on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price objective on the stock. Telsey Advisory Group dropped their target price on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, UBS Group decreased their price target 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 equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.11.

Grocery Outlet Stock Performance

Shares of GO stock opened at $16.28 on Tuesday. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.16 and a beta of 0.10. The stock has a fifty day moving average of $18.60 and a 200 day moving average of $22.15. Grocery Outlet Holding Corp. has a 52 week low of $15.72 and a 52 week high of $29.98. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

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

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.