State Board of Administration of Florida Retirement System Cuts Stock Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

State Board of Administration of Florida Retirement System trimmed its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GOGet Rating) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,054 shares of the company’s stock after selling 1,906 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Grocery Outlet were worth $3,157,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Treasurer of the State of North Carolina raised its stake in shares of Grocery Outlet by 1.6% during the first quarter. Treasurer of the State of North Carolina now owns 32,189 shares of the company’s stock worth $1,055,000 after acquiring an additional 515 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Grocery Outlet by 2.4% during the second quarter. Exchange Traded Concepts LLC now owns 23,862 shares of the company’s stock valued at $1,017,000 after buying an additional 548 shares during the period. Retirement Systems of Alabama grew its stake in shares of Grocery Outlet by 0.8% during the second quarter. Retirement Systems of Alabama now owns 115,522 shares of the company’s stock valued at $4,925,000 after buying an additional 876 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Grocery Outlet by 7.5% in the first quarter. Teacher Retirement System of Texas now owns 18,045 shares of the company’s stock worth $592,000 after buying an additional 1,265 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Grocery Outlet by 5.8% in the 2nd quarter. Arizona State Retirement System now owns 24,720 shares of the company’s stock valued at $1,054,000 after acquiring an additional 1,361 shares during the last quarter. Institutional investors own 98.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GO. Morgan Stanley decreased their price target on Grocery Outlet from $33.00 to $30.00 and set an “underweight” rating on the stock in a research note on Thursday, November 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Grocery Outlet from $51.00 to $43.00 in a report on Friday, November 4th. Cowen boosted their price objective on shares of Grocery Outlet from $45.00 to $53.00 in a research report on Thursday, August 11th. Cowen increased their target price on shares of Grocery Outlet from $45.00 to $53.00 in a report on Wednesday, August 10th. Finally, The Goldman Sachs Group boosted their price target on Grocery Outlet from $38.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, November 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Grocery Outlet currently has an average rating of “Moderate Buy” and a consensus price target of $43.11.

Grocery Outlet Stock Performance

Grocery Outlet stock opened at $30.96 on Tuesday. Grocery Outlet Holding Corp. has a fifty-two week low of $23.69 and a fifty-two week high of $46.37. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 55.29, a PEG ratio of 3.21 and a beta of -0.04. The stock’s 50 day simple moving average is $33.99 and its two-hundred day simple moving average is $38.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.42 and a current ratio of 1.65.

Insider Activity at Grocery Outlet

In related news, Director Thomas F. Herman sold 2,000 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $36.09, for a total value of $72,180.00. Following the completion of the transaction, the director now directly owns 37,917 shares in the company, valued at approximately $1,368,424.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Grocery Outlet news, CEO Eric J. Jr. Lindberg sold 5,049 shares of the business’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $35.25, for a total value of $177,977.25. Following the sale, the chief executive officer now directly owns 60,560 shares of the company’s stock, valued at $2,134,740. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $36.09, for a total value of $72,180.00. Following the completion of the transaction, the director now directly owns 37,917 shares of the company’s stock, valued at approximately $1,368,424.53. The disclosure for this sale can be found here. Insiders have sold 250,131 shares of company stock worth $9,563,302 over the last ninety days. 11.20% of the stock is owned by corporate insiders.

About Grocery Outlet

(Get Rating)

Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.

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Institutional Ownership by Quarter for Grocery Outlet (NASDAQ:GO)

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