Raymond James & Associates Grows Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Raymond James & Associates grew its stake in Grocery Outlet Holding Corp. (NASDAQ:GOGet Rating) by 22.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,784 shares of the company’s stock after buying an additional 14,801 shares during the period. Raymond James & Associates’ holdings in Grocery Outlet were worth $2,656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GO. Captrust Financial Advisors boosted its stake in shares of Grocery Outlet by 58.1% in the 2nd quarter. Captrust Financial Advisors now owns 762 shares of the company’s stock valued at $32,000 after purchasing an additional 280 shares in the last quarter. James Investment Research Inc. purchased a new stake in shares of Grocery Outlet in the 2nd quarter valued at $58,000. Point72 Hong Kong Ltd purchased a new stake in shares of Grocery Outlet in the 1st quarter valued at $118,000. Nisa Investment Advisors LLC purchased a new stake in shares of Grocery Outlet in the 2nd quarter valued at $129,000. Finally, Prospera Financial Services Inc purchased a new stake in shares of Grocery Outlet in the 2nd quarter valued at $137,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Grocery Outlet Stock Up 0.8 %

Shares of NASDAQ GO opened at $28.99 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.35. Grocery Outlet Holding Corp. has a 12 month low of $23.69 and a 12 month high of $46.37. The firm has a market capitalization of $2.82 billion, a PE ratio of 51.77, a price-to-earnings-growth ratio of 2.87 and a beta of -0.06. The firm has a fifty day simple moving average of $29.74 and a two-hundred day simple moving average of $35.23.

Grocery Outlet (NASDAQ:GOGet Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). The company had revenue of $918.19 million during the quarter, compared to the consensus estimate of $880.51 million. Grocery Outlet had a return on equity of 7.83% and a net margin of 1.63%. Equities analysts expect that Grocery Outlet Holding Corp. will post 0.76 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Telsey Advisory Group cut their price objective on shares of Grocery Outlet from $50.00 to $44.00 and set an “outperform” rating for the company in a research note on Wednesday, November 9th. The Goldman Sachs Group increased their price target on shares of Grocery Outlet from $38.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, November 9th. DA Davidson dropped their price target on shares of Grocery Outlet to $39.00 in a research report on Tuesday, November 15th. Morgan Stanley dropped their price target on shares of Grocery Outlet from $30.00 to $26.00 and set an “underweight” rating for the company in a research report on Tuesday, January 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Grocery Outlet from $51.00 to $43.00 in a research report on Friday, November 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $41.00.

Insider Buying and Selling

In related news, CFO Charles Bracher sold 6,250 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $35.29, for a total value of $220,562.50. Following the completion of the transaction, the chief financial officer now directly owns 77,234 shares in the company, valued at approximately $2,725,587.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Charles Bracher sold 6,250 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $35.29, for a total transaction of $220,562.50. Following the sale, the chief financial officer now directly owns 77,234 shares of the company’s stock, valued at approximately $2,725,587.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric J. Jr. Lindberg sold 25,000 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $35.28, for a total transaction of $882,000.00. Following the sale, the chief executive officer now directly owns 60,560 shares in the company, valued at $2,136,556.80. The disclosure for this sale can be found here. Insiders sold a total of 40,806 shares of company stock worth $1,401,001 in the last three months. 11.20% of the stock is owned by corporate insiders.

Grocery Outlet Profile

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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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