1,626,573 Shares in Grocery Outlet Holding Corp. (NASDAQ:GO) Bought by Solel Partners LP

Solel Partners LP purchased a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,626,573 shares of the company’s stock, valued at approximately $35,980,000. Grocery Outlet makes up approximately 5.9% of Solel Partners LP’s investment portfolio, making the stock its 9th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Treasurer of the State of North Carolina grew its stake in shares of Grocery Outlet by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 42,093 shares of the company’s stock worth $1,135,000 after purchasing an additional 410 shares in the last quarter. State of Michigan Retirement System lifted its holdings in Grocery Outlet by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 24,380 shares of the company’s stock worth $702,000 after buying an additional 600 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Grocery Outlet during the 1st quarter worth about $25,000. Oak Ridge Investments LLC boosted its position in shares of Grocery Outlet by 1.2% during the 1st quarter. Oak Ridge Investments LLC now owns 73,820 shares of the company’s stock worth $2,125,000 after acquiring an additional 876 shares in the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of Grocery Outlet by 1.0% in the 1st quarter. New York State Teachers Retirement System now owns 91,427 shares of the company’s stock valued at $2,631,000 after acquiring an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Price Performance

Shares of NASDAQ:GO opened at $16.28 on Tuesday. Grocery Outlet Holding Corp. has a one year low of $15.72 and a one year high of $29.98. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.16 and a beta of 0.10. The company has a 50-day simple moving average of $18.60 and a 200-day simple moving average of $22.15. 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 data 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 firm 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 earned $0.23 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. On average, analysts predict that Grocery Outlet Holding Corp. will post 0.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GO. Roth Mkm decreased their target price 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. Craig Hallum downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $32.00 to $20.00 in a research report on Wednesday, July 31st. UBS Group dropped their target price on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company initiated coverage on shares of Grocery Outlet in a research report on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price target for the company. Finally, Melius Research assumed coverage on Grocery Outlet in a report on Monday. They set a “hold” rating and a $17.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.11.

Insider Buying and Selling

In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet 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 sale, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at $1,155,580.02. The disclosure for this sale can be found here. Insiders sold a total of 500,095 shares of company stock valued at $8,876,548 over the last three months. 4.50% of the stock is currently owned by company insiders.

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.