Aigen Investment Management LP purchased a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 21,389 shares of the company's stock, valued at approximately $334,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Grocery Outlet by 0.6% during the 3rd quarter. State Street Corp now owns 3,407,152 shares of the company's stock worth $59,796,000 after buying an additional 21,237 shares in the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Grocery Outlet by 0.9% in the 3rd quarter. Geneva Capital Management LLC now owns 1,575,495 shares of the company's stock worth $27,650,000 after purchasing an additional 13,561 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Grocery Outlet by 11.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,631 shares of the company's stock worth $20,428,000 after purchasing an additional 138,161 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of Grocery Outlet by 3.8% in the 3rd quarter. WCM Investment Management LLC now owns 1,264,133 shares of the company's stock worth $22,337,000 after purchasing an additional 46,632 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Grocery Outlet by 159.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company's stock worth $21,676,000 after purchasing an additional 759,697 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors.
GO has been the topic of a number of recent research reports. Morgan Stanley cut their target price on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a report on Wednesday, February 26th. Bank of America cut their target price on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Telsey Advisory Group cut their target price on Grocery Outlet from $18.00 to $16.00 and set a "market perform" rating on the stock in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price on the stock. in a report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their price objective on Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $15.25.
Read Our Latest Stock Analysis on Grocery Outlet
NASDAQ:GO traded up $1.57 during mid-day trading on Friday, reaching $13.10. The stock had a trading volume of 4,491,054 shares, compared to its average volume of 2,009,966. The firm has a 50 day moving average price of $15.55 and a two-hundred day moving average price of $16.78. The stock has a market capitalization of $1.28 billion, a P/E ratio of 25.69, a P/E/G ratio of 9.08 and a beta of 0.36. Grocery Outlet Holding Corp. has a one year low of $10.26 and a one year high of $29.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.
In other news, EVP Steven K. Wilson sold 6,477 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total transaction of $73,449.18. Following the completion of the transaction, the executive vice president now directly owns 173,605 shares of the company's stock, valued at approximately $1,968,680.70. This represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Lindsay E. Gray sold 2,741 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total transaction of $31,082.94. Following the transaction, the senior vice president now directly owns 41,448 shares of the company's stock, valued at approximately $470,020.32. This trade represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 200,000 shares of company stock worth $2,435,050 in the last quarter. 4.50% of the stock is owned by insiders.
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.
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