Centiva Capital LP Purchases New Shares in Grocery Outlet Holding Corp. (NASDAQ:GO)

Centiva Capital LP acquired a new position in Grocery Outlet Holding Corp. (NASDAQ:GO) in the third quarter, Holdings Channel reports. The fund acquired 19,935 shares of the company’s stock, valued at approximately $350,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the last quarter. Innealta Capital LLC bought a new stake in Grocery Outlet in the second quarter worth about $38,000. Capital Performance Advisors LLP purchased a new position in Grocery Outlet in the third quarter valued at about $32,000. Arizona State Retirement System grew its position in shares of Grocery Outlet by 7.2% during the 2nd quarter. Arizona State Retirement System now owns 27,779 shares of the company’s stock valued at $614,000 after acquiring an additional 1,862 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Grocery Outlet by 21.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,995 shares of the company’s stock worth $376,000 after purchasing an additional 3,050 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GO. Wells Fargo & Company reduced their price objective on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Loop Capital started coverage on Grocery Outlet in a report on Thursday, October 17th. They issued a “hold” rating and a $17.00 price objective for the company. Craig Hallum lowered their price objective on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Roth Mkm cut their target price on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Grocery Outlet has an average rating of “Hold” and a consensus target price of $18.00.

Insider Activity at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction dated 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 transaction, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. This represents a 73.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Erik D. Ragatz bought 110,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the transaction, the director now directly owns 539,785 shares in the company, valued at $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by insiders.

Grocery Outlet Stock Up 1.2 %

GO opened at $19.35 on Tuesday. The firm has a market capitalization of $1.88 billion, a P/E ratio of 37.49, a price-to-earnings-growth ratio of 4.81 and a beta of 0.25. Grocery Outlet Holding Corp. has a one year low of $13.60 and a one year high of $29.80. The company has a fifty day moving average price of $17.56 and a 200-day moving average price of $18.96. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. Equities research analysts expect that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal 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.