Barclays PLC Buys 277,706 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Barclays PLC grew its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 1,224.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 300,393 shares of the company’s stock after acquiring an additional 277,706 shares during the quarter. Barclays PLC owned 0.31% of Grocery Outlet worth $5,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Grocery Outlet by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock valued at $79,933,000 after acquiring an additional 655,065 shares during the last quarter. Van Berkom & Associates Inc. grew its stake in Grocery Outlet by 21.1% in the 2nd quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company’s stock valued at $77,388,000 after purchasing an additional 609,871 shares during the period. State Street Corp increased its position in shares of Grocery Outlet by 0.6% during the 3rd quarter. State Street Corp now owns 3,407,152 shares of the company’s stock valued at $59,796,000 after purchasing an additional 21,237 shares during the last quarter. Millennium Management LLC raised its stake in shares of Grocery Outlet by 677.6% during the 2nd quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock worth $43,832,000 after purchasing an additional 1,726,741 shares during the period. Finally, Solel Partners LP purchased a new position in shares of Grocery Outlet in the 2nd quarter worth about $35,980,000. Institutional investors own 99.87% of the company’s stock.

Grocery Outlet Trading Up 0.8 %

GO stock opened at $16.73 on Friday. Grocery Outlet Holding Corp. has a one year low of $13.60 and a one year high of $29.19. The company has a market capitalization of $1.63 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 4.74 and a beta of 0.25. The company’s 50 day moving average price is $17.87 and its two-hundred day moving average price is $18.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. As a group, analysts predict that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Loop Capital assumed coverage on shares of Grocery Outlet in a report on Thursday, October 17th. They issued a “hold” rating and a $17.00 price target on the stock. Craig Hallum lowered their target price on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Bank of America downgraded Grocery Outlet from a “buy” rating to a “neutral” rating and cut their price target for the stock from $29.00 to $17.00 in a research note on Wednesday, October 30th. UBS Group lowered their price objective on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Finally, Melius Research initiated 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 for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.00.

Insiders Place Their Bets

In other Grocery Outlet news, Director Erik D. Ragatz bought 110,000 shares of Grocery Outlet stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the purchase, the director now owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. This represents a 25.59 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.50% of the company’s stock.

About Grocery Outlet

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.