Pictet Asset Management Holding SA Has $308,000 Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Pictet Asset Management Holding SA boosted its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 37.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,702 shares of the company’s stock after acquiring an additional 5,411 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Grocery Outlet were worth $308,000 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 GO. New Age Alpha Advisors LLC bought a new stake in shares of Grocery Outlet in the 4th quarter worth $257,000. WINTON GROUP Ltd purchased a new position in Grocery Outlet during the fourth quarter worth about $3,812,000. EntryPoint Capital LLC bought a new stake in Grocery Outlet in the 4th quarter worth about $242,000. Advantage Alpha Capital Partners LP increased its stake in Grocery Outlet by 61.3% in the 4th quarter. Advantage Alpha Capital Partners LP now owns 295,445 shares of the company’s stock valued at $4,612,000 after buying an additional 112,233 shares during the last quarter. Finally, Cedar Wealth Management LLC lifted its position in shares of Grocery Outlet by 3.9% during the 4th quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company’s stock worth $318,000 after buying an additional 765 shares in the last quarter. 99.87% of the stock is owned by institutional investors.

Insider Activity at Grocery Outlet

In other news, Director Erik D. Ragatz purchased 165,000 shares of Grocery Outlet stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $12.25 per share, for a total transaction of $2,021,250.00. Following the transaction, the director now directly owns 201,500 shares of the company’s stock, valued at approximately $2,468,375. This trade represents a 452.05 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven K. Wilson sold 6,477 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total transaction of $73,449.18. Following the completion of the transaction, the executive vice president now directly owns 173,605 shares in the company, valued at approximately $1,968,680.70. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by corporate insiders.

Grocery Outlet Trading Up 2.5 %

Shares of GO stock opened at $14.21 on Friday. Grocery Outlet Holding Corp. has a 1 year low of $10.26 and a 1 year high of $27.65. The company’s fifty day simple moving average is $14.03 and its two-hundred day simple moving average is $16.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 9.08 and a beta of 0.40.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GO shares. The Goldman Sachs Group reduced their target price on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company decreased their target price on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Telsey Advisory Group cut their price target on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a report on Wednesday, February 26th. Bank of America decreased their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Grocery Outlet currently has an average rating of “Hold” and a consensus target price of $15.25.

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.