Arizona State Retirement System Buys 1,862 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Arizona State Retirement System raised its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,779 shares of the company’s stock after acquiring an additional 1,862 shares during the period. Arizona State Retirement System’s holdings in Grocery Outlet were worth $614,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Boulder Hill Capital Management LP bought a new position in Grocery Outlet during the fourth quarter worth about $2,038,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Grocery Outlet by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 879,116 shares of the company’s stock worth $23,701,000 after purchasing an additional 38,506 shares during the period. Capstone Investment Advisors LLC raised its position in shares of Grocery Outlet by 161.1% in the first quarter. Capstone Investment Advisors LLC now owns 93,188 shares of the company’s stock valued at $2,682,000 after buying an additional 57,496 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Grocery Outlet by 2.2% in the fourth quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock valued at $251,871,000 after buying an additional 199,926 shares during the period. Finally, Capital World Investors grew its position in Grocery Outlet by 281.4% during the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock worth $103,023,000 after buying an additional 2,641,016 shares in the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Insider Buying and Selling

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $18.44, for a total value of $1,844,000.00. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at $1,308,096.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 300,000 shares of company stock worth $5,617,000 in the last ninety days. Company insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group cut their price objective on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Telsey Advisory Group dropped their target price on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company started coverage on shares of Grocery Outlet in a research report on Thursday, July 18th. They set an “overweight” rating and a $28.00 price target on the stock. Finally, Roth Mkm lowered their price objective on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Grocery Outlet presently has an average rating of “Hold” and an average price target of $22.75.

Grocery Outlet Stock Up 1.0 %

Shares of NASDAQ:GO opened at $16.44 on Monday. 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 Holding Corp. has a 52-week low of $16.06 and a 52-week high of $30.33. The company has a market capitalization of $1.64 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 3.16 and a beta of 0.10. The company has a fifty day moving average of $19.18 and a 200-day moving average of $22.57.

Grocery Outlet (NASDAQ:GO) last posted 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. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $0.23 earnings per share. On average, equities analysts predict that Grocery Outlet Holding Corp. will post 0.68 EPS for the current fiscal year.

Grocery Outlet 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.