Grocery Outlet Holding Corp. (NASDAQ:GO) Stake Lessened by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 5.6% in the third quarter, Holdings Channel.com reports. The firm owned 47,400 shares of the company’s stock after selling 2,800 shares during the period. Louisiana State Employees Retirement System’s holdings in Grocery Outlet were worth $832,000 as of its most recent SEC filing.

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

Grocery Outlet Stock Performance

NASDAQ:GO opened at $14.41 on Tuesday. 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 firm has a market capitalization of $1.41 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 3.39 and a beta of 0.13. Grocery Outlet Holding Corp. has a 12-month low of $13.60 and a 12-month high of $29.98. The firm has a 50-day moving average price of $16.74 and a 200 day moving average price of $19.84.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. Research analysts anticipate that Grocery Outlet Holding Corp. will post 0.66 earnings per share for the current fiscal year.

Insider Transactions at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $18.83, for a total transaction of $1,883,000.00. Following the sale, the director now owns 70,938 shares in the company, valued at approximately $1,335,762.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $18.83, for a total transaction of $1,883,000.00. Following the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,335,762.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 500,095 shares of company stock worth $8,876,548. Insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GO. Wells Fargo & Company reduced their price target on Grocery Outlet from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Craig Hallum downgraded Grocery Outlet from a “buy” rating to a “hold” rating and cut their price objective for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. Melius Research initiated coverage on Grocery Outlet in a research note on Monday, September 23rd. They issued a “hold” rating and a $17.00 price objective on the stock. Loop Capital initiated coverage on Grocery Outlet in a research note on Thursday, October 17th. They issued a “hold” rating and a $17.00 price objective on the stock. Finally, Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.73.

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.