Integrated Wealth Concepts LLC Sells 1,866 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Integrated Wealth Concepts LLC trimmed its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 11.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,294 shares of the company’s stock after selling 1,866 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Grocery Outlet were worth $251,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GO. Raymond James & Associates raised its stake in shares of Grocery Outlet by 48.0% in the second quarter. Raymond James & Associates now owns 82,730 shares of the company’s stock worth $1,830,000 after buying an additional 26,828 shares during the period. Washington Capital Management Inc. purchased a new stake in Grocery Outlet in the 2nd quarter worth approximately $396,000. Louisiana State Employees Retirement System raised its stake in Grocery Outlet by 75.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 50,200 shares of the company’s stock worth $1,110,000 after acquiring an additional 21,600 shares during the period. Patten Group Inc. purchased a new position in Grocery Outlet during the second quarter valued at approximately $548,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Grocery Outlet by 21.9% in the second 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 period. 99.87% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction dated 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 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 SEC, which is accessible through this hyperlink. Also, Director Erik D. Ragatz acquired 110,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the purchase, the director now owns 539,785 shares of the company’s stock, 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 Trading Down 0.3 %

GO stock opened at $19.11 on Friday. The firm has a fifty day moving average price of $17.80 and a 200 day moving average price of $18.89. Grocery Outlet Holding Corp. has a fifty-two week low of $13.60 and a fifty-two week high of $29.80. The firm has a market cap of $1.86 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 4.74 and a beta of 0.25. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $1.11 billion during 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%. Grocery Outlet’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 earnings per share. Sell-side analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on GO. UBS Group lowered their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Telsey Advisory Group lowered 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. Loop Capital began coverage on Grocery Outlet in a research report on Thursday, October 17th. They set a “hold” rating and a $17.00 target price for the company. Wells Fargo & Company lowered their price target on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.00.

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.