Canada Pension Plan Investment Board Takes $82,000 Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Canada Pension Plan Investment Board acquired a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) during the second quarter, Holdings Channel.com reports. The fund acquired 3,700 shares of the company’s stock, valued at approximately $82,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Grocery Outlet in the first quarter worth $25,000. Innealta Capital LLC acquired a new stake in shares of Grocery Outlet in the 2nd quarter worth about $38,000. Daiwa Securities Group Inc. acquired a new stake in shares of Grocery Outlet in the 1st quarter worth about $127,000. Bleakley Financial Group LLC bought a new stake in Grocery Outlet in the 1st quarter worth about $217,000. Finally, Delap Wealth Advisory LLC bought a new stake in Grocery Outlet in the 1st quarter worth about $242,000. 99.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Grocery Outlet Trading Up 3.5 %

Shares of GO opened at $17.67 on Monday. The firm’s 50-day moving average price is $18.25 and its 200-day moving average price is $21.88. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 3.12 and a beta of 0.10. 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 Holding Corp. has a 1-year low of $15.72 and a 1-year high of $29.98.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the company posted $0.23 EPS. Grocery Outlet’s revenue was up 11.7% on a year-over-year basis. Sell-side analysts anticipate that Grocery Outlet Holding Corp. will post 0.68 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on GO. Craig Hallum downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $20.00 in a research report on Wednesday, July 31st. Roth Mkm lowered their target price on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Melius Research initiated coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They set a “hold” rating and a $17.00 price objective on the stock. Wells Fargo & Company started coverage on shares of Grocery Outlet in a research report on Thursday, July 18th. They set an “overweight” rating and a $28.00 price objective on the stock. Finally, Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.11.

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.