US Bancorp DE Sells 6,617 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

US Bancorp DE decreased its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 74.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,251 shares of the company’s stock after selling 6,617 shares during the quarter. US Bancorp DE’s holdings in Grocery Outlet were worth $40,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of GO. Allspring Global Investments Holdings LLC bought a new position in shares of Grocery Outlet in the first quarter worth approximately $25,000. Blue Trust Inc. boosted its position in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the period. Innealta Capital LLC bought a new stake in Grocery Outlet in the 2nd quarter worth $38,000. Canada Pension Plan Investment Board purchased a new position in shares of Grocery Outlet in the second quarter valued at about $82,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of Grocery Outlet during the third quarter valued at about $181,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Insider Buying and Selling at Grocery Outlet

In related news, Director Erik D. Ragatz acquired 110,000 shares of the stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the purchase, the director now owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. This represents a 25.59 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $18.44, for a total value of $1,844,000.00. Following the completion of the transaction, the director now directly owns 70,938 shares in the company, valued at $1,308,096.72. This represents a 58.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Grocery Outlet Stock Up 0.2 %

NASDAQ GO opened at $17.86 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 4.45 and a beta of 0.13. Grocery Outlet Holding Corp. has a 52 week low of $13.60 and a 52 week high of $29.80. The company has a fifty day moving average of $16.64 and a two-hundred day moving average of $19.21.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. On average, analysts predict that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GO. Telsey Advisory Group cut their price objective on Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company reduced their price objective on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. TD Cowen cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $25.00 to $16.00 in a research report on Wednesday, November 6th. Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group lowered their price objective on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.00.

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.