State of New Jersey Common Pension Fund D Increases Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

State of New Jersey Common Pension Fund D increased its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,710 shares of the company’s stock after acquiring an additional 8,353 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Grocery Outlet were worth $2,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its stake in Grocery Outlet by 1.7% during the 4th quarter. Federated Hermes Inc. now owns 1,453,032 shares of the company’s stock valued at $39,174,000 after acquiring an additional 24,530 shares during the period. Mackenzie Financial Corp boosted its holdings in Grocery Outlet by 4.6% in the fourth quarter. Mackenzie Financial Corp now owns 4,926,336 shares of the company’s stock valued at $132,814,000 after purchasing an additional 216,257 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in Grocery Outlet in the fourth quarter valued at $596,000. Louisiana State Employees Retirement System acquired a new stake in Grocery Outlet during the 4th quarter worth about $752,000. Finally, WCM Investment Management LLC raised its stake in shares of Grocery Outlet by 4.8% during the 4th quarter. WCM Investment Management LLC now owns 946,674 shares of the company’s stock valued at $25,532,000 after buying an additional 43,352 shares during the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Trading Down 1.6 %

Shares of GO stock opened at $25.56 on Thursday. Grocery Outlet Holding Corp. has a 1-year low of $23.41 and a 1-year high of $36.54. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 2.48 and a beta of 0.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 0.43. The stock has a 50 day simple moving average of $26.96 and a 200-day simple moving average of $27.13.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $989.82 million during the quarter, compared to analyst estimates of $982.44 million. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. On average, equities research analysts expect that Grocery Outlet Holding Corp. will post 0.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GO has been the topic of several analyst reports. Telsey Advisory Group dropped their target price on Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Wednesday, February 28th. Finally, UBS Group decreased their target price on shares of Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating for the company in a research note 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 given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $31.44.

Insider Buying and Selling

In other news, Director Thomas F. Herman sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $29.00, for a total value of $29,000.00. Following the transaction, the director now owns 10,400 shares in the company, valued at $301,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Thomas F. Herman sold 1,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total transaction of $29,000.00. Following the completion of the sale, the director now owns 10,400 shares of the company’s stock, valued at $301,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Lindsay E. Gray sold 1,677 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $25.83, for a total transaction of $43,316.91. Following the completion of the sale, the chief financial officer now owns 38,273 shares of the company’s stock, valued at $988,591.59. The disclosure for this sale can be found here. Insiders sold a total of 506,588 shares of company stock worth $13,367,577 in the last 90 days. Insiders own 4.50% of the company’s stock.

About Grocery Outlet

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.