Janney Montgomery Scott LLC Buys Shares of 55,645 Grocery Outlet Holding Corp. (NASDAQ:GO)

Janney Montgomery Scott LLC acquired a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 55,645 shares of the company’s stock, valued at approximately $869,000.

Several other institutional investors have also recently modified their holdings of GO. Point72 Asset Management L.P. grew its position in shares of Grocery Outlet by 159.8% in the third quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company’s stock valued at $21,676,000 after purchasing an additional 759,697 shares during the period. Jane Street Group LLC increased its position in Grocery Outlet by 357.7% during the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock worth $9,118,000 after purchasing an additional 406,039 shares in the last quarter. Barclays PLC lifted its holdings in shares of Grocery Outlet by 1,224.1% during the 3rd quarter. Barclays PLC now owns 300,393 shares of the company’s stock valued at $5,271,000 after acquiring an additional 277,706 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Grocery Outlet by 23.2% in the 3rd quarter. Victory Capital Management Inc. now owns 915,119 shares of the company’s stock worth $16,060,000 after acquiring an additional 172,050 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Grocery Outlet by 14.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,170,470 shares of the company’s stock worth $20,542,000 after buying an additional 147,312 shares during the period. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Erik D. Ragatz bought 110,000 shares of Grocery Outlet stock in a transaction dated Friday, November 15th. The shares were bought at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the purchase, the director now owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is currently owned by company insiders.

Grocery Outlet Trading Up 0.6 %

Shares of GO stock opened at $17.31 on Friday. The company has a market cap of $1.68 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 17.18 and a beta of 0.32. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. Grocery Outlet Holding Corp. has a 12 month low of $13.60 and a 12 month high of $29.19. The business’s 50 day moving average is $17.04 and its two-hundred day moving average is $17.50.

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

Analysts Set New Price Targets

GO has been the topic of a number of recent analyst reports. UBS Group cut their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Telsey Advisory Group reissued a “market perform” rating and issued a $18.00 price target on shares of Grocery Outlet in a report on Wednesday, January 22nd. The Goldman Sachs Group cut their price objective on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a report on Friday, November 1st. Finally, Craig Hallum decreased their price objective on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Grocery Outlet presently has an average rating of “Hold” and an average target price of $18.00.

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.