Public Sector Pension Investment Board Makes New $4.86 Million Investment in Grocery Outlet Holding Corp. (NASDAQ:GO)

Public Sector Pension Investment Board purchased a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 219,758 shares of the company’s stock, valued at approximately $4,861,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GO. Boulder Hill Capital Management LP acquired a new stake in shares of Grocery Outlet in the 4th quarter valued at about $2,038,000. Capstone Investment Advisors LLC grew its stake in Grocery Outlet by 161.1% in the first quarter. Capstone Investment Advisors LLC now owns 93,188 shares of the company’s stock valued at $2,682,000 after acquiring an additional 57,496 shares during the period. Capital Research Global Investors increased its holdings in shares of Grocery Outlet by 2.2% during the fourth quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock valued at $251,871,000 after acquiring an additional 199,926 shares in the last quarter. Capital World Investors raised its position in shares of Grocery Outlet by 281.4% during the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock worth $103,023,000 after purchasing an additional 2,641,016 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Grocery Outlet by 261.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 57,471 shares of the company’s stock worth $1,549,000 after purchasing an additional 41,592 shares during the period. 99.87% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 70,938 shares in the company, valued at $1,340,728.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now owns 70,938 shares in the company, valued at $1,155,580.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the sale, the director now owns 70,938 shares in the company, valued at $1,340,728.20. The disclosure for this sale can be found here. Insiders sold 500,095 shares of company stock valued at $8,876,548 in the last three months. Company insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GO shares. Roth Mkm decreased their price target on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. UBS Group decreased their target price on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company initiated coverage on shares of Grocery Outlet in a research report on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price target on the stock. Melius Research started coverage on Grocery Outlet in a report on Monday. They set a “hold” rating and a $17.00 price objective for the company. Finally, Telsey Advisory Group lowered their price objective on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.11.

Grocery Outlet Stock Up 5.1 %

GO stock opened at $17.08 on Friday. Grocery Outlet Holding Corp. has a 1-year low of $15.72 and a 1-year high of $29.98. The stock has a market cap of $1.67 billion, a P/E ratio of 26.69, a P/E/G ratio of 3.12 and a beta of 0.10. The stock’s fifty day simple moving average is $18.41 and its two-hundred day simple moving average is $22.05. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31.

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

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.