Algert Global LLC Sells 74,787 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Algert Global LLC lowered its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 88.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,983 shares of the company’s stock after selling 74,787 shares during the quarter. Algert Global LLC’s holdings in Grocery Outlet were worth $221,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GO. Capstone Investment Advisors LLC increased 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 last quarter. Capital World Investors boosted its holdings in shares of Grocery Outlet by 281.4% in the 1st 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 in the last quarter. Vanguard Group Inc. increased its position in shares of Grocery Outlet by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 9,273,020 shares of the company’s stock valued at $250,001,000 after purchasing an additional 101,056 shares during the last quarter. Millennium Management LLC raised its holdings 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 valued at $43,832,000 after buying an additional 1,726,741 shares in the last quarter. Finally, Bleakley Financial Group LLC bought a new stake in Grocery Outlet in the 1st quarter worth approximately $217,000. Institutional investors own 99.87% of the company’s stock.

Grocery Outlet Trading Down 2.7 %

GO opened at $15.72 on Friday. Grocery Outlet Holding Corp. has a one year low of $15.18 and a one year high of $29.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29. The business has a 50 day simple moving average of $17.63 and a two-hundred day simple moving average of $21.26. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 3.12 and a beta of 0.10.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company earned $0.23 earnings per share. Grocery Outlet’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts predict that Grocery Outlet Holding Corp. will post 0.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GO shares. Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. UBS Group reduced their target price on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Craig Hallum downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price target for the stock from $32.00 to $20.00 in a research note on Wednesday, July 31st. Roth Mkm reduced their price objective on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Melius Research initiated coverage on Grocery Outlet in a report on Monday, September 23rd. They set a “hold” rating and a $17.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.11.

Insider Transactions at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction 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 sale, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 70,938 shares in the company, valued at $1,340,728.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 500,095 shares of company stock valued at $8,876,548. Corporate insiders own 4.50% of the company’s stock.

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.