Geneva Capital Management LLC Purchases 446,198 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Geneva Capital Management LLC raised its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 48.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,373,378 shares of the company’s stock after acquiring an additional 446,198 shares during the period. Geneva Capital Management LLC’s holdings in Grocery Outlet were worth $37,026,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Grocery Outlet during the 3rd quarter worth approximately $113,000. Headlands Technologies LLC lifted its holdings in Grocery Outlet by 32,200.0% during the 4th quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock valued at $131,000 after purchasing an additional 4,830 shares during the last quarter. Corton Capital Inc. acquired a new position in shares of Grocery Outlet in the third quarter valued at $216,000. Numerai GP LLC bought a new position in shares of Grocery Outlet in the third quarter valued at about $236,000. Finally, Securian Asset Management Inc. lifted its stake in shares of Grocery Outlet by 5.4% during the 3rd quarter. Securian Asset Management Inc. now owns 8,366 shares of the company’s stock worth $241,000 after buying an additional 432 shares during the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Price Performance

Grocery Outlet stock traded up $0.04 during trading hours on Thursday, reaching $20.92. 3,051,572 shares of the stock were exchanged, compared to its average volume of 1,362,395. The company has a market cap of $2.09 billion, a P/E ratio of 26.47, a price-to-earnings-growth ratio of 2.47 and a beta of 0.13. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 0.24. Grocery Outlet Holding Corp. has a twelve month low of $19.73 and a twelve month high of $36.54. The stock has a 50 day moving average of $26.83 and a two-hundred day moving average of $27.03.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $989.82 million for the quarter, compared to the consensus estimate of $982.44 million. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. Equities analysts expect that Grocery Outlet Holding Corp. will post 0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Thomas F. Herman sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total value of $29,000.00. Following the sale, the director now directly owns 10,400 shares in the company, valued at approximately $301,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Thomas F. Herman sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total value of $29,000.00. Following the sale, the director now directly owns 10,400 shares in the company, valued at approximately $301,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Erik D. Ragatz purchased 36,500 shares of Grocery Outlet stock in a transaction dated Friday, March 22nd. The stock was bought at an average price of $28.25 per share, for a total transaction of $1,031,125.00. Following the completion of the purchase, the director now owns 36,500 shares in the company, valued at approximately $1,031,125. The disclosure for this purchase can be found here. Insiders have sold 506,588 shares of company stock worth $13,367,577 over the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on GO shares. The Goldman Sachs Group lowered their price target on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday. Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Wednesday, February 28th. UBS Group lowered their price objective on Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday. Roth Mkm reduced their target price on shares of Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Telsey Advisory Group lowered their price target on shares of Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Grocery Outlet presently has an average rating of “Hold” and a consensus target price of $29.33.

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.