Natixis Advisors LLC Reduces Stock Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Natixis Advisors LLC lowered its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 14.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,148 shares of the company’s stock after selling 1,736 shares during the quarter. Natixis Advisors LLC’s holdings in Grocery Outlet were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GO. Allspring Global Investments Holdings LLC bought a new stake in Grocery Outlet in the first quarter valued at $25,000. Innealta Capital LLC bought a new stake in Grocery Outlet in the 2nd quarter valued at about $38,000. Daiwa Securities Group Inc. acquired a new position in Grocery Outlet during the 1st quarter valued at about $127,000. Quest Partners LLC bought a new position in Grocery Outlet in the 4th quarter worth about $193,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of Grocery Outlet in the first quarter valued at approximately $217,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Grocery Outlet Price Performance

GO opened at $16.44 on Friday. Grocery Outlet Holding Corp. has a 12-month low of $16.06 and a 12-month high of $30.33. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $1.61 billion, a P/E ratio of 25.69, a PEG ratio of 3.16 and a beta of 0.10. The stock has a fifty day moving average of $19.18 and a 200-day moving average of $22.59.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the company posted $0.23 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts forecast that Grocery Outlet Holding Corp. will post 0.68 EPS for the current fiscal year.

Analyst Ratings Changes

GO has been the subject of a number of recent analyst reports. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Craig Hallum cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and cut their price objective for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. Wells Fargo & Company initiated coverage on shares of Grocery Outlet in a research note on Thursday, July 18th. They set an “overweight” rating and a $28.00 target price on the stock. Telsey Advisory Group lowered their price objective on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Roth Mkm lowered their price target on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Grocery Outlet has a consensus rating of “Hold” and an average price target of $22.75.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the sale, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 300,000 shares of company stock valued at $5,617,000. 4.50% of the stock is currently owned by corporate insiders.

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.