Capital World Investors Has $103.02 Million Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Capital World Investors increased its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 281.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,579,683 shares of the company’s stock after buying an additional 2,641,016 shares during the period. Capital World Investors’ holdings in Grocery Outlet were worth $103,023,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GO. Treasurer of the State of North Carolina increased its position in Grocery Outlet by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 42,093 shares of the company’s stock worth $1,135,000 after buying an additional 410 shares during the period. Versor Investments LP increased its position in Grocery Outlet by 1.5% in the 4th quarter. Versor Investments LP now owns 37,341 shares of the company’s stock worth $1,007,000 after buying an additional 550 shares during the period. State of Michigan Retirement System increased its position in Grocery Outlet by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 24,380 shares of the company’s stock worth $702,000 after buying an additional 600 shares during the period. Louisiana State Employees Retirement System increased its position in Grocery Outlet by 2.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 28,600 shares of the company’s stock worth $823,000 after buying an additional 700 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Grocery Outlet in the 1st quarter worth approximately $25,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Grocery Outlet Price Performance

GO stock traded up $1.02 during trading on Friday, hitting $20.80. The company had a trading volume of 2,329,894 shares, compared to its average volume of 1,708,393. The company has a fifty day moving average price of $21.38 and a two-hundred day moving average price of $24.39. The company has a current ratio of 1.25, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.08 billion, a P/E ratio of 32.50, a P/E/G ratio of 3.65 and a beta of 0.09. Grocery Outlet Holding Corp. has a fifty-two week low of $18.79 and a fifty-two week high of $36.54.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Grocery Outlet had a return on equity of 5.46% and a net margin of 1.60%. Equities research analysts expect that Grocery Outlet Holding Corp. will post 0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Grocery Outlet news, EVP Luke D. Thompson sold 1,332 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $22.43, for a total value of $29,876.76. Following the transaction, the executive vice president now owns 32,306 shares of the company’s stock, valued at $724,623.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Erik D. Ragatz purchased 100,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were acquired at an average price of $20.91 per share, with a total value of $2,091,000.00. Following the completion of the purchase, the director now directly owns 429,785 shares of the company’s stock, valued at approximately $8,986,804.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Luke D. Thompson sold 1,332 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total value of $29,876.76. Following the transaction, the executive vice president now directly owns 32,306 shares in the company, valued at approximately $724,623.58. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. TD Cowen dropped their price target on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Roth Mkm lowered their price objective on Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Telsey Advisory Group lowered their price objective on Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. Wells Fargo & Company assumed coverage on Grocery Outlet in a research report on Thursday, July 18th. They set an “overweight” rating and a $28.00 price objective on the stock. Finally, 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, May 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $28.82.

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.