Sei Investments Co. Sells 377,403 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Sei Investments Co. lowered its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 62.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 224,321 shares of the company’s stock after selling 377,403 shares during the period. Sei Investments Co.’s holdings in Grocery Outlet were worth $4,962,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its position in shares of Grocery Outlet by 2.2% during the fourth quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock worth $251,871,000 after acquiring an additional 199,926 shares in the last quarter. Vanguard Group Inc. boosted its stake in Grocery Outlet by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock valued at $268,628,000 after purchasing an additional 60,830 shares during the last quarter. 12 West Capital Management LP increased its holdings in Grocery Outlet by 383.3% during the 1st quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock worth $104,328,000 after purchasing an additional 2,875,000 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Grocery Outlet by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock worth $79,933,000 after purchasing an additional 655,065 shares during the last quarter. Finally, Capital World Investors lifted its holdings in shares of Grocery Outlet by 281.4% in the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after purchasing an additional 2,641,016 shares in the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Analysts Set New Price Targets

GO has been the subject of several recent research reports. UBS Group decreased their price target on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company assumed coverage on shares of Grocery Outlet in a research report on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price objective for the company. Melius Research started coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They set a “hold” rating and a $17.00 target price on the stock. Roth Mkm decreased their price target on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.11.

Grocery Outlet Trading Down 1.2 %

Shares of GO opened at $17.34 on Wednesday. Grocery Outlet Holding Corp. has a fifty-two week low of $15.72 and a fifty-two week high of $29.98. The business has a 50-day moving average of $18.15 and a 200 day moving average of $21.75. The firm has a market cap of $1.73 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 3.12 and a beta of 0.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. As a group, research analysts forecast that Grocery Outlet Holding Corp. will post 0.68 EPS for the current year.

Insiders Place Their Bets

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the sale, the director now owns 70,938 shares in the company, valued at $1,340,728.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,155,580.02. The disclosure for this sale can be found here. Insiders have sold a total of 500,095 shares of company stock worth $8,876,548 over the last 90 days. Corporate insiders own 4.50% of the company’s stock.

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.