Capital Performance Advisors LLP Invests $32,000 in Grocery Outlet Holding Corp. (NASDAQ:GO)

Capital Performance Advisors LLP purchased a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) in the 3rd quarter, Holdings Channel reports. The fund purchased 1,802 shares of the company’s stock, valued at approximately $32,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Grocery Outlet during the first quarter valued at $25,000. Blue Trust Inc. lifted its stake in 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 acquiring an additional 722 shares during the period. Innealta Capital LLC bought a new stake in shares of Grocery Outlet in the second quarter worth approximately $38,000. Canada Pension Plan Investment Board bought a new position in Grocery Outlet during the second quarter valued at approximately $82,000. Finally, Nisa Investment Advisors LLC purchased a new stake in Grocery Outlet in the third quarter worth approximately $181,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GO shares. Melius Research began coverage on Grocery Outlet in a report on Monday, September 23rd. They set a “hold” rating and a $17.00 price target on the stock. Loop Capital began coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They issued a “hold” rating and a $17.00 price objective on the stock. Bank of America downgraded shares of Grocery Outlet from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $17.00 in a report on Wednesday, October 30th. Craig Hallum decreased their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company cut their price objective 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, November 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.00.

Insider Activity at Grocery Outlet

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 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 sale, the director now directly owns 70,938 shares in the company, valued at $1,340,728.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s 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 transaction, the director now directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 500,095 shares of company stock valued at $8,876,548 over the last 90 days. 4.50% of the stock is owned by corporate insiders.

Grocery Outlet Stock Up 5.4 %

Shares of GO stock opened at $18.77 on Tuesday. Grocery Outlet Holding Corp. has a 52 week low of $13.60 and a 52 week high of $29.98. The company has a quick ratio of 0.29, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $16.54 and its two-hundred day simple moving average is $19.47. The stock has a market cap of $1.82 billion, a P/E ratio of 36.80, a PEG ratio of 4.45 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. Analysts predict that Grocery Outlet Holding Corp. will post 0.65 EPS for the current fiscal year.

About Grocery Outlet

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.