Centiva Capital LP Takes $350,000 Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Centiva Capital LP purchased a new position in Grocery Outlet Holding Corp. (NASDAQ:GO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,935 shares of the company’s stock, valued at approximately $350,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Raymond James & Associates increased its stake in Grocery Outlet by 48.0% in the second quarter. Raymond James & Associates now owns 82,730 shares of the company’s stock valued at $1,830,000 after acquiring an additional 26,828 shares during the last quarter. Washington Capital Management Inc. acquired a new position in shares of Grocery Outlet during the 2nd quarter worth $396,000. Louisiana State Employees Retirement System lifted its position in shares of Grocery Outlet by 75.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 50,200 shares of the company’s stock worth $1,110,000 after buying an additional 21,600 shares during the last quarter. Patten Group Inc. acquired a new stake in Grocery Outlet in the second quarter valued at about $548,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Grocery Outlet by 21.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,995 shares of the company’s stock valued at $376,000 after acquiring an additional 3,050 shares during the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented 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 for the company in a report on Wednesday, November 6th. Telsey Advisory Group decreased their target price on shares of Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating on the stock in a research note 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 for the company in a report on Wednesday, November 6th. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $16.00 in a report on Wednesday, November 6th. Finally, Craig Hallum lowered their target price on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Grocery Outlet currently has an average rating of “Hold” and an average price target of $18.00.

Grocery Outlet Stock Up 1.2 %

Shares of NASDAQ:GO opened at $19.35 on Tuesday. The business’s 50-day moving average is $17.56 and its 200-day moving average is $18.96. Grocery Outlet Holding Corp. has a 1 year low of $13.60 and a 1 year high of $29.80. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 37.49, a P/E/G ratio of 4.81 and a beta of 0.25. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. Equities research analysts predict that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz acquired 110,000 shares of the stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the acquisition, the director now owns 539,785 shares in the company, valued at approximately $9,851,076.25. This represents a 25.59 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’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 directly owns 70,938 shares in the company, valued at $1,155,580.02. This trade represents a 73.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

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.