IFP Advisors Inc Grows Stake in Grocery Outlet Holding Corp. (NASDAQ:GO)

IFP Advisors Inc grew its position in Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) by 123.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,599 shares of the company’s stock after purchasing an additional 883 shares during the period. IFP Advisors Inc’s holdings in Grocery Outlet were worth $45,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Grocery Outlet by 7.7% in the first quarter. BlackRock Inc. now owns 8,852,693 shares of the company’s stock worth $290,192,000 after acquiring an additional 631,964 shares during the last quarter. Vanguard Group Inc. raised its stake in Grocery Outlet by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,490,964 shares of the company’s stock valued at $278,334,000 after purchasing an additional 96,832 shares during the last quarter. Capital Research Global Investors lifted its holdings in Grocery Outlet by 6.7% in the 1st quarter. Capital Research Global Investors now owns 7,339,446 shares of the company’s stock valued at $240,587,000 after purchasing an additional 463,415 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Grocery Outlet by 79.7% during the 3rd quarter. Alliancebernstein L.P. now owns 4,828,475 shares of the company’s stock worth $160,740,000 after purchasing an additional 2,142,190 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Grocery Outlet by 0.4% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,903,966 shares of the company’s stock worth $96,673,000 after buying an additional 10,556 shares in the last quarter. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GO. TheStreet downgraded shares of Grocery Outlet from a “b-” rating to a “c+” rating in a research note on Wednesday, February 1st. Roth Capital restated a “neutral” rating on shares of Grocery Outlet in a report on Thursday, March 2nd. The Goldman Sachs Group dropped their target price on Grocery Outlet from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, March 1st. Credit Suisse Group reissued a “neutral” rating and issued a $30.00 price target on shares of Grocery Outlet in a research note on Wednesday, March 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Grocery Outlet from $38.00 to $34.00 in a research note on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Grocery Outlet currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Grocery Outlet Trading Up 0.1 %

Shares of GO stock opened at $30.52 on Thursday. Grocery Outlet Holding Corp. has a fifty-two week low of $25.71 and a fifty-two week high of $46.37. The firm’s 50 day moving average price is $28.67 and its two-hundred day moving average price is $29.43. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 45.55, a price-to-earnings-growth ratio of 3.74 and a beta of -0.01. The company has a quick ratio of 0.37, a current ratio of 1.42 and a debt-to-equity ratio of 0.28.

Grocery Outlet (NASDAQ:GO – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. Grocery Outlet had a return on equity of 7.41% and a net margin of 1.81%. The company had revenue of $930.83 million for the quarter, compared to analyst estimates of $904.17 million. On average, analysts anticipate that Grocery Outlet Holding Corp. will post 0.76 EPS for the current year.

Insider Buying and Selling at Grocery Outlet

In related news, SVP Lindsay E. Gray sold 1,307 shares of Grocery Outlet stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $27.46, for a total transaction of $35,890.22. Following the sale, the senior vice president now owns 32,271 shares of the company’s stock, valued at approximately $886,161.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Grocery Outlet news, SVP Lindsay E. Gray sold 1,307 shares of Grocery Outlet stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $27.46, for a total transaction of $35,890.22. Following the sale, the senior vice president now directly owns 32,271 shares in the company, valued at approximately $886,161.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Joseph Jr. Sheedy sold 6,837 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $27.46, for a total value of $187,744.02. Following the transaction, the chief executive officer now owns 147,562 shares of the company’s stock, valued at $4,052,052.52. The disclosure for this sale can be found here. Insiders sold 334,281 shares of company stock valued at $9,723,215 over the last 90 days. 11.20% of the stock is owned by corporate insiders.

Grocery Outlet Company Profile

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Grocery Outlet Holding Corp. engages in the operation of retail stores in the United States. It offers name-brand consumables and fresh products through a network of independently operated stores. The company was founded by Jim Read in 1946 and is headquartered in Emeryville, CA.