Pallas Capital Advisors LLC Sells 5,086 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Pallas Capital Advisors LLC cut its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 17.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,717 shares of the company’s stock after selling 5,086 shares during the period. Pallas Capital Advisors LLC’s holdings in Grocery Outlet were worth $370,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Barclays PLC raised its position in Grocery Outlet by 1,224.1% in the third quarter. Barclays PLC now owns 300,393 shares of the company’s stock worth $5,271,000 after acquiring an additional 277,706 shares during the period. Jane Street Group LLC increased its stake in shares of Grocery Outlet by 357.7% during the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock worth $9,118,000 after purchasing an additional 406,039 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Grocery Outlet by 887.1% in the 3rd quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock worth $1,855,000 after purchasing an additional 94,969 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Grocery Outlet in the third quarter valued at approximately $511,000. Finally, GSA Capital Partners LLP purchased a new stake in Grocery Outlet in the third quarter worth $2,507,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on GO shares. TD Cowen cut Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price target for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. Craig Hallum dropped their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group reduced their target price on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Loop Capital started coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They set a “hold” rating and a $17.00 price target on the stock. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $18.00 price objective on shares of Grocery Outlet in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.00.

Insiders Place Their Bets

In other news, Director Erik D. Ragatz purchased 110,000 shares of the stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the transaction, the director now directly owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.50% of the company’s stock.

Grocery Outlet Trading Down 2.4 %

Shares of GO stock opened at $15.94 on Thursday. The company has a market capitalization of $1.55 billion, a PE ratio of 31.26, a price-to-earnings-growth ratio of 4.81 and a beta of 0.31. Grocery Outlet Holding Corp. has a 52-week low of $13.60 and a 52-week high of $29.19. The business’s fifty day moving average is $17.84 and its 200 day moving average is $18.06. 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 results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the firm posted $0.25 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS 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.