Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Acquired by KBC Group NV

KBC Group NV increased its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 62.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,506 shares of the company’s stock after purchasing an additional 1,736 shares during the quarter. KBC Group NV’s holdings in Grocery Outlet were worth $70,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Decker Retirement Planning Inc. purchased a new stake in Grocery Outlet during the 4th quarter worth about $31,000. Capital Performance Advisors LLP acquired a new stake in Grocery Outlet in the 3rd quarter valued at about $32,000. True Wealth Design LLC purchased a new position in shares of Grocery Outlet in the 3rd quarter valued at about $75,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Grocery Outlet during the third quarter worth about $181,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GO has been the subject of a number of recent research reports. Bank of America downgraded shares of Grocery Outlet from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $29.00 to $17.00 in a research note on Wednesday, October 30th. TD Cowen downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and lowered their target price for the stock from $25.00 to $16.00 in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut their price target on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group lowered their price objective on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Finally, Wells Fargo & Company cut their target price on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.00.

Grocery Outlet Trading Up 3.5 %

NASDAQ:GO opened at $17.37 on Tuesday. The company has a market capitalization of $1.69 billion, a PE ratio of 34.06, a P/E/G ratio of 18.37 and a beta of 0.32. Grocery Outlet Holding Corp. has a 52-week low of $13.60 and a 52-week high of $29.19. The stock’s 50 day moving average price is $16.88 and its 200 day moving average price is $17.45. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

Insider Activity

In related news, Director Erik D. Ragatz purchased 110,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the transaction, the director now directly owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.