Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 4.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,919 shares of the company’s stock after selling 2,711 shares during the quarter. State of Alaska Department of Revenue’s holdings in Grocery Outlet were worth $981,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Grocery Outlet during the 1st quarter worth about $25,000. Blue Trust Inc. raised its holdings in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the period. Innealta Capital LLC acquired a new stake in Grocery Outlet during the 2nd quarter worth about $38,000. Canada Pension Plan Investment Board acquired a new stake in Grocery Outlet during the 2nd quarter worth about $82,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Grocery Outlet during the 1st quarter worth about $127,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 70,938 shares of the company’s stock, valued at $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 available through the SEC website. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $18.83, for a total value of $1,883,000.00. Following the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,335,762.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 500,095 shares of company stock valued at $8,876,548 over the last 90 days. 4.50% of the stock is currently owned by company insiders.

Grocery Outlet Trading Up 1.0 %

NASDAQ:GO opened at $14.56 on Wednesday. The stock’s 50 day moving average price is $16.74 and its 200 day moving average price is $19.84. Grocery Outlet Holding Corp. has a 52 week low of $13.60 and a 52 week high of $29.98. The company has a market capitalization of $1.43 billion, a P/E ratio of 26.96, a P/E/G ratio of 3.57 and a beta of 0.13. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, topping 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 the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company posted $0.23 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. On average, research analysts forecast that Grocery Outlet Holding Corp. will post 0.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on GO. Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group dropped their target price on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Bank of America downgraded Grocery Outlet from a “buy” rating to a “neutral” rating and dropped their target price for the company from $29.00 to $17.00 in a report on Wednesday, October 30th. Loop Capital began coverage on Grocery Outlet in a report on Thursday, October 17th. They issued a “hold” rating and a $17.00 target price on the stock. Finally, Craig Hallum downgraded Grocery Outlet from a “buy” rating to a “hold” rating and dropped their target price for the company from $32.00 to $20.00 in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average 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.