Creative Planning Purchases New Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Creative Planning acquired a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,278 shares of the company’s stock, valued at approximately $198,000.

Other institutional investors have also added to or reduced their stakes in the company. Capital World Investors increased its holdings in shares of 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. Millennium Management LLC increased its holdings in shares of Grocery Outlet by 677.6% during the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock worth $43,832,000 after buying an additional 1,726,741 shares in the last quarter. Solel Partners LP acquired a new position in shares of Grocery Outlet during the second quarter worth $35,980,000. American Century Companies Inc. increased its holdings in Grocery Outlet by 889.9% in the second quarter. American Century Companies Inc. now owns 1,010,785 shares of the company’s stock valued at $22,359,000 after purchasing an additional 908,680 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Grocery Outlet by 1,891.8% in the second quarter. Victory Capital Management Inc. now owns 743,069 shares of the company’s stock valued at $16,437,000 after purchasing an additional 705,762 shares during the period. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $18.83, for a total transaction of $1,883,000.00. Following the sale, the director now owns 70,938 shares of the company’s stock, valued at $1,335,762.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $18.83, for a total transaction of $1,883,000.00. Following the completion of the transaction, the director now directly owns 70,938 shares in the company, valued at $1,335,762.54. The trade was a 0.00 % decrease in their position. The transaction 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 Grocery Outlet 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 sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 500,095 shares of company stock valued at $8,876,548 in the last 90 days. 4.50% of the stock is currently owned by company insiders.

Grocery Outlet Trading Up 5.4 %

NASDAQ:GO opened at $18.77 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.29 and a current ratio of 1.46. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 36.80, a price-to-earnings-growth ratio of 4.45 and a beta of 0.13. Grocery Outlet Holding Corp. has a 52 week low of $13.60 and a 52 week high of $29.98. The firm has a 50-day moving average price of $16.54 and a two-hundred day moving average price of $19.47.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the business posted $0.25 EPS. Grocery Outlet’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities analysts expect that Grocery Outlet Holding Corp. will post 0.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

GO has been the subject of a number of recent research reports. The Goldman Sachs Group decreased their price objective on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a report on Friday, November 1st. Telsey Advisory Group decreased their price objective on Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Wednesday, November 6th. Loop Capital began coverage on shares of Grocery Outlet in a research report on Thursday, October 17th. They set a “hold” rating and a $17.00 price target on the stock. Craig Hallum cut their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Finally, UBS Group cut their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.00.

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.