Public Employees Retirement System of Ohio Has $653,000 Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Public Employees Retirement System of Ohio lessened its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,187 shares of the company’s stock after selling 1,368 shares during the period. Public Employees Retirement System of Ohio’s holdings in Grocery Outlet were worth $653,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Grocery Outlet in the second quarter valued at $38,000. Capital Performance Advisors LLP bought a new position in shares of Grocery Outlet in the third quarter valued at about $32,000. Canada Pension Plan Investment Board acquired a new position in Grocery Outlet during the 2nd quarter worth about $82,000. Finally, True Wealth Design LLC acquired a new stake in Grocery Outlet in the 3rd quarter valued at about $75,000. Institutional investors own 99.87% of the company’s stock.

Analyst Ratings Changes

GO has been the topic of several research analyst reports. TD Cowen cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and decreased their price target for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. Bank of America lowered Grocery Outlet from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $29.00 to $17.00 in a research report on Wednesday, October 30th. Roth Mkm dropped their target price on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Melius Research started coverage on Grocery Outlet in a report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price target on the stock. Finally, Loop Capital started coverage on Grocery Outlet in a report on Thursday, October 17th. They set a “hold” rating and a $17.00 price objective for the company. One equities 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.00.

Insider Activity

In related news, Director Erik D. Ragatz acquired 110,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the acquisition, the director now owns 539,785 shares in the company, valued at $9,851,076.25. This represents a 25.59 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by corporate insiders.

Grocery Outlet Stock Up 0.8 %

GO stock opened at $16.73 on Friday. The business has a 50-day moving average of $17.87 and a 200-day moving average of $18.72. Grocery Outlet Holding Corp. has a fifty-two week low of $13.60 and a fifty-two week high of $29.19. The stock has a market capitalization of $1.63 billion, a P/E ratio of 32.80, a P/E/G ratio of 4.74 and a beta of 0.25. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33.

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, 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 analysts’ expectations of $1.10 billion. During the same period last year, the business earned $0.25 EPS. The business’s quarterly revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

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.