Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 28.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,500 shares of the company’s stock after purchasing an additional 24,672 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.11% of Grocery Outlet worth $1,957,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Grocery Outlet in the first quarter valued at $25,000. Swiss National Bank increased its holdings in Grocery Outlet by 0.6% in the first quarter. Swiss National Bank now owns 186,100 shares of the company’s stock valued at $5,356,000 after buying an additional 1,200 shares in the last quarter. Innealta Capital LLC purchased a new position in Grocery Outlet in the second quarter valued at $38,000. Finally, Capital Performance Advisors LLP purchased a new position in Grocery Outlet in the third quarter valued at $32,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. UBS Group lowered their price target on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Bank of America lowered shares of Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $29.00 to $17.00 in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered their price target on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Finally, Roth Mkm lowered their price target on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.00.

Grocery Outlet Trading Down 1.6 %

NASDAQ GO opened at $17.82 on Monday. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. Grocery Outlet Holding Corp. has a 52 week low of $13.60 and a 52 week high of $29.80. The stock has a market capitalization of $1.73 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 4.45 and a beta of 0.13. The firm has a 50 day moving average of $16.62 and a two-hundred day moving average of $19.26.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts expect that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction on 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 transaction, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. This represents a 73.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is owned by company insiders.

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.