Raymond James & Associates Sells 24,961 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Raymond James & Associates cut its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 37.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,248 shares of the company’s stock after selling 24,961 shares during the quarter. Raymond James & Associates’ holdings in Grocery Outlet were worth $1,112,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Hsbc Holdings PLC boosted its stake in shares of Grocery Outlet by 1,410.7% in the 3rd quarter. Hsbc Holdings PLC now owns 138,349 shares of the company’s stock valued at $3,983,000 after purchasing an additional 129,191 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Grocery Outlet by 6.8% in the 3rd quarter. State of Michigan Retirement System now owns 23,580 shares of the company’s stock valued at $680,000 after purchasing an additional 1,500 shares in the last quarter. Barclays PLC boosted its stake in shares of Grocery Outlet by 88.6% in the 3rd quarter. Barclays PLC now owns 100,361 shares of the company’s stock valued at $2,897,000 after purchasing an additional 47,140 shares in the last quarter. 12 West Capital Management LP boosted its stake in shares of Grocery Outlet by 50.0% in the 3rd quarter. 12 West Capital Management LP now owns 300,000 shares of the company’s stock valued at $8,655,000 after purchasing an additional 100,000 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Grocery Outlet in the 3rd quarter valued at approximately $6,842,000. 99.87% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Eric J. Jr. Lindberg sold 300,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.16, for a total transaction of $7,848,000.00. Following the completion of the sale, the director now owns 107,123 shares of the company’s stock, valued at $2,802,337.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Eric J. Jr. Lindberg sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.16, for a total transaction of $7,848,000.00. Following the completion of the transaction, the director now owns 107,123 shares in the company, valued at $2,802,337.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 64,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $26.75, for a total value of $1,712,000.00. Following the transaction, the director now owns 64,135 shares of the company’s stock, valued at approximately $1,715,611.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 506,588 shares of company stock valued at $13,367,577. 6.20% of the stock is currently owned by company insiders.

Grocery Outlet Trading Up 1.9 %

Shares of GO opened at $26.97 on Friday. The business’s 50-day moving average price is $26.87 and its 200-day moving average price is $27.17. Grocery Outlet Holding Corp. has a twelve month low of $23.41 and a twelve month high of $36.54. The stock has a market cap of $2.68 billion, a PE ratio of 34.14, a P/E/G ratio of 2.55 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 (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $989.82 million for the quarter, compared to analysts’ expectations of $982.44 million. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. On average, equities analysts forecast that Grocery Outlet Holding Corp. will post 0.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GO has been the topic of a number of research analyst reports. Craig Hallum upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Wednesday, February 28th. Telsey Advisory Group cut their target price on shares of Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, UBS Group cut their target price on shares of Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Grocery Outlet has a consensus rating of “Hold” and an average price target of $31.44.

Grocery Outlet 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.