Public Employees Retirement System of Ohio Has $653,000 Stake in Grocery Outlet Holding Corp. (NASDAQ:GO)

Public Employees Retirement System of Ohio reduced its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,187 shares of the company’s stock after selling 1,368 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Grocery Outlet were worth $653,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GO. Blue Trust Inc. lifted its position in Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Grocery Outlet during the third quarter worth approximately $32,000. Innealta Capital LLC acquired a new stake in Grocery Outlet during the 2nd quarter worth approximately $38,000. True Wealth Design LLC bought a new stake in Grocery Outlet in the 3rd quarter valued at $75,000. Finally, Canada Pension Plan Investment Board acquired a new position in Grocery Outlet in the 2nd quarter valued at $82,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GO shares. Deutsche Bank Aktiengesellschaft dropped their target price on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. TD Cowen downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $16.00 in a report on Wednesday, November 6th. Craig Hallum lowered their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. UBS Group cut their price target on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $18.00 price objective on shares of Grocery Outlet in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Grocery Outlet currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Insider Activity

In other Grocery Outlet news, Director Erik D. Ragatz bought 110,000 shares of Grocery Outlet stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the acquisition, the director now directly owns 539,785 shares of the company’s stock, valued at $9,851,076.25. The trade was a 25.59 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is owned by corporate insiders.

Grocery Outlet Price Performance

Shares of GO stock opened at $16.73 on Friday. The business has a fifty day simple moving average of $17.87 and a 200 day simple moving average of $18.72. 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. Grocery Outlet Holding Corp. has a twelve month low of $13.60 and a twelve month high of $29.19.

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

Grocery Outlet 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.