Treasurer of the State of North Carolina Increases Stake in Grocery Outlet Holding Corp. (NASDAQ:GO)

Treasurer of the State of North Carolina grew its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,293 shares of the company’s stock after buying an additional 490 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Grocery Outlet were worth $1,118,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Advisor Group Holdings Inc. increased its holdings in shares of Grocery Outlet by 51.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 5,508 shares of the company’s stock valued at $192,000 after purchasing an additional 1,868 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Grocery Outlet by 38.3% in the 1st quarter. Raymond James & Associates now owns 55,554 shares of the company’s stock valued at $1,821,000 after purchasing an additional 15,389 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Grocery Outlet in the 1st quarter valued at about $242,000. Citigroup Inc. increased its holdings in shares of Grocery Outlet by 120.4% in the 1st quarter. Citigroup Inc. now owns 22,823 shares of the company’s stock valued at $748,000 after purchasing an additional 134,572 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Grocery Outlet in the 1st quarter valued at about $1,166,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Insider Transactions at Grocery Outlet

In other news, CEO Robert Joseph Jr. Sheedy sold 6,837 shares of the stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $27.46, for a total transaction of $187,744.02. Following the transaction, the chief executive officer now directly owns 147,562 shares in the company, valued at approximately $4,052,052.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Robert Joseph Jr. Sheedy sold 6,837 shares of the firm’s 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 in the company, valued at $4,052,052.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Lindsay E. Gray sold 1,307 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 32,271 shares in the company, valued at approximately $886,161.66. The disclosure for this sale can be found here. Insiders have sold a total of 334,281 shares of company stock worth $9,723,215 in the last three months. Company insiders own 11.20% of the company’s stock.

Grocery Outlet Price Performance

Grocery Outlet stock opened at $30.54 on Friday. Grocery Outlet Holding Corp. has a 12-month low of $25.71 and a 12-month high of $46.37. The stock has a market capitalization of $3.00 billion, a P/E ratio of 45.58, a P/E/G ratio of 3.71 and a beta of -0.01. The firm’s 50-day moving average is $28.82 and its two-hundred day moving average is $29.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.42 and a quick ratio of 0.37.

Grocery Outlet (NASDAQ:GO – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $930.83 million for the quarter, compared to analysts’ expectations of $904.17 million. Grocery Outlet had a net margin of 1.81% and a return on equity of 7.41%. Equities analysts predict that Grocery Outlet Holding Corp. will post 0.77 earnings per share for the current year.

Analyst Ratings Changes

GO has been the subject of a number of research analyst reports. Craig Hallum downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating in a report on Wednesday, March 1st. Credit Suisse Group reiterated a “neutral” rating and issued a $30.00 price target on shares of Grocery Outlet in a report on Wednesday, March 1st. Morgan Stanley lowered their price objective on shares of Grocery Outlet from $26.00 to $25.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 1st. The Goldman Sachs Group lowered their price objective on shares of Grocery Outlet from $38.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, March 1st. Finally, Roth Capital reissued a “neutral” rating on shares of Grocery Outlet in a research note on Thursday, March 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.00.

About Grocery Outlet

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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.