Captrust Financial Advisors Buys New Shares in Grocery Outlet Holding Corp. (NASDAQ:GO)

Captrust Financial Advisors purchased a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 22,307 shares of the company’s stock, valued at approximately $391,000.

Several other large investors have also added to or reduced their stakes in the company. Raymond James & Associates raised its holdings in shares of Grocery Outlet by 48.0% during the second quarter. Raymond James & Associates now owns 82,730 shares of the company’s stock worth $1,830,000 after purchasing an additional 26,828 shares during the last quarter. Washington Capital Management Inc. acquired a new position in shares of Grocery Outlet in the 2nd quarter valued at about $396,000. Louisiana State Employees Retirement System boosted its stake in shares of Grocery Outlet by 75.5% in the second quarter. Louisiana State Employees Retirement System now owns 50,200 shares of the company’s stock worth $1,110,000 after buying an additional 21,600 shares during the last quarter. Patten Group Inc. acquired a new stake in Grocery Outlet during the second quarter worth about $548,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Grocery Outlet by 21.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,995 shares of the company’s stock valued at $376,000 after acquiring an additional 3,050 shares in the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Insider Transactions at Grocery Outlet

In other news, Director Erik D. Ragatz purchased 110,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the acquisition, the director now directly owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. This represents a 25.59 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now owns 70,938 shares in the company, valued at $1,155,580.02. This represents a 73.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Grocery Outlet Trading Down 0.3 %

Shares of GO opened at $19.11 on Friday. The firm’s fifty day moving average is $17.80 and its two-hundred day moving average is $18.89. The stock has a market cap of $1.86 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 4.74 and a beta of 0.25. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. Grocery Outlet Holding Corp. has a 52-week low of $13.60 and a 52-week high of $29.80.

Grocery Outlet (NASDAQ:GO) last released its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company posted $0.25 EPS. The business’s revenue was up 10.4% on a year-over-year basis. Research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GO has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Melius Research began coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They set a “hold” rating and a $17.00 price target on the stock. UBS Group decreased their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group dropped their target price on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Finally, Telsey Advisory Group reduced their price target on Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Grocery Outlet currently has a consensus rating of “Hold” and a consensus target price of $18.00.

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.