Sterling Capital Management LLC Acquires 2,034 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Sterling Capital Management LLC raised its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 53.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,808 shares of the company’s stock after purchasing an additional 2,034 shares during the period. Sterling Capital Management LLC’s holdings in Grocery Outlet were worth $91,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. increased its stake in Grocery Outlet by 1.8% during the 3rd quarter. Franklin Resources Inc. now owns 29,987 shares of the company’s stock valued at $526,000 after purchasing an additional 529 shares in the last quarter. Amundi increased its position in shares of Grocery Outlet by 0.6% during the fourth quarter. Amundi now owns 116,139 shares of the company’s stock valued at $1,895,000 after acquiring an additional 719 shares in the last quarter. Cedar Wealth Management LLC raised its holdings in Grocery Outlet by 3.9% in the 4th quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company’s stock worth $318,000 after acquiring an additional 765 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Grocery Outlet by 2.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock valued at $732,000 after acquiring an additional 1,240 shares in the last quarter. Finally, KBC Group NV boosted its stake in Grocery Outlet by 62.7% during the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock valued at $70,000 after purchasing an additional 1,736 shares during the last quarter. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Grocery Outlet

In related news, CFO Christopher M. Miller acquired 10,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $11.68 per share, with a total value of $116,800.00. Following the acquisition, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $116,800. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Erik D. Ragatz bought 165,000 shares of Grocery Outlet stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $12.25 per share, for a total transaction of $2,021,250.00. Following the completion of the acquisition, the director now directly owns 201,500 shares of the company’s stock, valued at approximately $2,468,375. The trade was a 452.05 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 200,000 shares of company stock valued at $2,435,050 and have sold 17,756 shares valued at $216,892. 4.50% of the stock is owned by corporate insiders.

Grocery Outlet Price Performance

NASDAQ:GO opened at $16.12 on Wednesday. The business’s 50-day simple moving average is $13.68 and its two-hundred day simple moving average is $15.92. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $27.64. The stock has a market cap of $1.58 billion, a PE ratio of 31.61, a P/E/G ratio of 9.08 and a beta of 0.40. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. The Goldman Sachs Group decreased their target price on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. Telsey Advisory Group decreased their price objective on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a report on Wednesday, February 26th. Bank of America dropped their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and boosted their target price for the company from $13.00 to $18.00 in a research note on Wednesday, April 16th. Finally, Morgan Stanley dropped their price target on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.46.

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.