Lecap Asset Management Ltd. Invests $596,000 in Grocery Outlet Holding Corp. (NASDAQ:GO)

Lecap Asset Management Ltd. acquired a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 22,113 shares of the company’s stock, valued at approximately $596,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Captrust Financial Advisors lifted its holdings in shares of Grocery Outlet by 58.1% in the 2nd quarter. Captrust Financial Advisors now owns 762 shares of the company’s stock worth $32,000 after acquiring an additional 280 shares during the last quarter. CWM LLC boosted its position in Grocery Outlet by 248.0% during the third quarter. CWM LLC now owns 1,399 shares of the company’s stock valued at $40,000 after buying an additional 997 shares during the period. Dark Forest Capital Management LP bought a new position in shares of Grocery Outlet during the first quarter valued at about $55,000. State of Wyoming increased its holdings in shares of Grocery Outlet by 78.7% in the fourth quarter. State of Wyoming now owns 2,012 shares of the company’s stock worth $59,000 after buying an additional 886 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Grocery Outlet in the 4th quarter valued at about $72,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Grocery Outlet

In related news, CEO Robert Joseph Jr. Sheedy sold 10,456 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $26.33, for a total value of $275,306.48. Following the transaction, the chief executive officer now owns 198,992 shares in the company, valued at approximately $5,239,459.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Grocery Outlet news, Director Thomas F. Herman sold 1,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $29.00, for a total value of $29,000.00. Following the completion of the transaction, the director now owns 10,400 shares of the company’s stock, valued at approximately $301,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert Joseph Jr. Sheedy sold 10,456 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $26.33, for a total transaction of $275,306.48. Following the sale, the chief executive officer now directly owns 198,992 shares in the company, valued at approximately $5,239,459.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 506,588 shares of company stock worth $13,367,577. 6.20% of the stock is owned by insiders.

Grocery Outlet Trading Down 3.5 %

NASDAQ GO opened at $26.29 on Monday. The stock’s 50 day moving average is $26.67 and its 200 day moving average is $27.24. The firm has a market capitalization of $2.61 billion, a PE ratio of 33.28, a P/E/G ratio of 2.53 and a beta of 0.10. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. Grocery Outlet Holding Corp. has a twelve month low of $23.41 and a twelve month high of $36.54.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. The business had revenue of $989.82 million for the quarter, compared to analysts’ expectations of $982.44 million. Research analysts forecast that Grocery Outlet Holding Corp. will post 0.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. UBS Group decreased their price target on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Telsey Advisory Group lowered their price target on shares of Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Finally, Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.44.

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.