Barclays PLC Acquires 277,706 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Barclays PLC lifted its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 1,224.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,393 shares of the company’s stock after buying an additional 277,706 shares during the quarter. Barclays PLC’s holdings in Grocery Outlet were worth $5,271,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. raised its stake in Grocery Outlet by 76.6% during the third 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. Capital Performance Advisors LLP purchased a new position in shares of Grocery Outlet in the 3rd quarter worth about $32,000. Innealta Capital LLC bought a new position in Grocery Outlet in the 2nd quarter worth about $38,000. True Wealth Design LLC purchased a new stake in Grocery Outlet during the 3rd quarter valued at about $75,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Grocery Outlet during the 2nd quarter valued at about $82,000. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Trading Up 0.8 %

Grocery Outlet stock opened at $16.73 on Friday. Grocery Outlet Holding Corp. has a 52-week low of $13.60 and a 52-week high of $29.19. The company has a market cap of $1.63 billion, a P/E ratio of 32.80, a P/E/G 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. The business has a 50-day simple moving average of $17.87 and a two-hundred day simple moving average of $18.72.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the business posted $0.25 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Analysts predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GO. Craig Hallum dropped their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Bank of America cut Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $17.00 in a research report on Wednesday, October 30th. Melius Research assumed coverage on Grocery Outlet in a report on Monday, September 23rd. They issued a “hold” rating and a $17.00 target price for the company. Roth Mkm lowered their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $25.00 to $16.00 in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Grocery Outlet currently has a consensus rating of “Hold” and an average target price of $18.00.

Insider Transactions at Grocery Outlet

In other news, Director Erik D. Ragatz bought 110,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were bought at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the purchase, the director now owns 539,785 shares in the company, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.50% of the stock is currently owned by company insiders.

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.