Fmr LLC Has $72,000 Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Fmr LLC decreased its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 99.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,079 shares of the company’s stock after selling 1,313,281 shares during the period. Fmr LLC’s holdings in Grocery Outlet were worth $72,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Grocery Outlet by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock valued at $79,933,000 after acquiring an additional 655,065 shares during the last quarter. Van Berkom & Associates Inc. grew its stake in Grocery Outlet by 21.1% in the second quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company’s stock valued at $77,388,000 after purchasing an additional 609,871 shares in the last quarter. Millennium Management LLC increased its position in shares of Grocery Outlet by 677.6% during the 2nd quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock worth $43,832,000 after purchasing an additional 1,726,741 shares during the last quarter. Solel Partners LP bought a new stake in shares of Grocery Outlet during the 2nd quarter worth approximately $35,980,000. Finally, Geneva Capital Management LLC boosted its holdings in shares of Grocery Outlet by 0.9% in the 3rd quarter. Geneva Capital Management LLC now owns 1,575,495 shares of the company’s stock valued at $27,650,000 after buying an additional 13,561 shares during the last quarter. 99.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GO. Wells Fargo & Company lowered their target price on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group lowered their price objective on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut their target price on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Roth Mkm reduced their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Finally, Melius Research initiated coverage on Grocery Outlet in a research note on Monday, September 23rd. They issued a “hold” rating and a $17.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.00.

Grocery Outlet Trading Up 0.3 %

Shares of GO stock opened at $15.76 on Wednesday. Grocery Outlet Holding Corp. has a 12-month low of $13.60 and a 12-month high of $29.19. The firm has a 50 day moving average price of $17.87 and a two-hundred day moving average price of $18.65. 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 company has a market capitalization of $1.53 billion, a PE ratio of 30.90, a price-to-earnings-growth ratio of 4.74 and a beta of 0.25.

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, topping the consensus estimate of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the firm posted $0.25 EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, analysts predict that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Insider Activity

In related news, Director Erik D. Ragatz purchased 110,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the transaction, the director now directly owns 539,785 shares of the company’s stock, valued at $9,851,076.25. This represents a 25.59 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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.