Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 76.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 19,622 shares of the company’s stock after selling 63,854 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Grocery Outlet were worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in Grocery Outlet during the 1st quarter worth $25,000. Innealta Capital LLC bought a new position in Grocery Outlet during the 2nd quarter worth $38,000. Canada Pension Plan Investment Board bought a new position in Grocery Outlet during the 2nd quarter worth $82,000. Daiwa Securities Group Inc. bought a new position in Grocery Outlet during the 1st quarter worth $127,000. Finally, Bleakley Financial Group LLC bought a new position in Grocery Outlet during the 1st quarter worth $217,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GO has been the subject of several recent analyst reports. Wells Fargo & Company initiated coverage on Grocery Outlet in a research note on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price target for the company. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Melius Research initiated coverage on Grocery Outlet in a research note on Monday, September 23rd. They issued a “hold” rating and a $17.00 price target for the company. 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 note on Wednesday, August 7th. Finally, Craig Hallum cut Grocery Outlet from a “buy” rating to a “hold” rating and decreased their price target for the stock from $32.00 to $20.00 in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.11.

Grocery Outlet Trading Up 2.6 %

Shares of GO stock opened at $16.87 on Thursday. The stock has a 50-day simple moving average of $17.42 and a 200 day simple moving average of $20.88. Grocery Outlet Holding Corp. has a fifty-two week low of $15.18 and a fifty-two week high of $29.98. The stock has a market capitalization of $1.68 billion, a P/E ratio of 26.36, a P/E/G ratio of 3.10 and a beta of 0.10. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the business posted $0.23 earnings per share. Grocery Outlet’s revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts expect that Grocery Outlet Holding Corp. will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the transaction, the director now directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 500,095 shares of company stock valued at $8,876,548. 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.