Bank of Hawaii Purchases Shares of 21,109 Grocery Outlet Holding Corp. (NASDAQ:GO)

Bank of Hawaii acquired a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 21,109 shares of the company’s stock, valued at approximately $370,000.

A number of other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its position in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Grocery Outlet during the third quarter worth about $32,000. Innealta Capital LLC acquired a new position in shares of Grocery Outlet in the 2nd quarter worth approximately $38,000. Canada Pension Plan Investment Board acquired a new position in Grocery Outlet in the second quarter worth $82,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Grocery Outlet in the 3rd quarter valued at about $181,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. This represents a 73.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erik D. Ragatz bought 110,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the transaction, the director now owns 539,785 shares of the company’s stock, valued at $9,851,076.25. This represents a 25.59 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.50% of the company’s stock.

Grocery Outlet Stock Up 6.9 %

Shares of GO stock opened at $20.88 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The stock has a market cap of $2.03 billion, a PE ratio of 40.94, a price-to-earnings-growth ratio of 4.92 and a beta of 0.13. The business’s fifty day moving average is $16.90 and its 200-day moving average is $19.05. Grocery Outlet Holding Corp. has a 1 year low of $13.60 and a 1 year high of $29.80.

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

Analyst Ratings Changes

GO has been the subject of a number of recent research reports. 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 note on Friday, November 1st. UBS Group decreased their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Melius Research initiated coverage on Grocery Outlet in a report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price objective for the company. 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 note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $18.00.

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.