Victory Capital Management Inc. Lowers Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Victory Capital Management Inc. decreased its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 892,024 shares of the company’s stock after selling 23,095 shares during the quarter. Victory Capital Management Inc.’s holdings in Grocery Outlet were worth $13,924,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Decker Retirement Planning Inc. purchased a new position in Grocery Outlet during the 4th quarter valued at approximately $31,000. True Wealth Design LLC bought a new position in shares of Grocery Outlet during the 3rd quarter valued at approximately $75,000. KBC Group NV grew its holdings in shares of Grocery Outlet by 62.7% in the fourth quarter. KBC Group NV now owns 4,506 shares of the company’s stock valued at $70,000 after purchasing an additional 1,736 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Grocery Outlet in the fourth quarter worth $161,000. Finally, Blueshift Asset Management LLC purchased a new stake in Grocery Outlet during the third quarter valued at $227,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Price Performance

GO opened at $12.26 on Thursday. The business has a fifty day moving average of $15.40 and a 200 day moving average of $16.68. The stock has a market cap of $1.19 billion, a P/E ratio of 24.04, a PEG ratio of 9.08 and a beta of 0.36. 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 $10.26 and a 52-week high of $29.13.

Insider Transactions at Grocery Outlet

In other news, SVP Lindsay E. Gray sold 2,741 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total transaction of $31,082.94. Following the transaction, the senior vice president now owns 41,448 shares of the company’s stock, valued at approximately $470,020.32. This represents a 6.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven K. Wilson sold 6,682 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $13.16, for a total value of $87,935.12. Following the transaction, the executive vice president now owns 166,923 shares in the company, valued at approximately $2,196,706.68. This represents a 3.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 200,000 shares of company stock worth $2,435,050 and sold 17,756 shares worth $216,892. Corporate insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on GO shares. The Goldman Sachs Group dropped their price objective on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research report on Wednesday, February 26th. Morgan Stanley decreased their price objective on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 26th. Telsey Advisory Group dropped their target price on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a report on Wednesday, February 26th. Finally, Bank of America cut their target price on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Grocery Outlet currently has a consensus rating of “Hold” and an average target price of $15.25.

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.