Integrated Wealth Concepts LLC Cuts Stake in Grocery Outlet Holding Corp. (NASDAQ:GO)

Integrated Wealth Concepts LLC cut its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 11.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,294 shares of the company’s stock after selling 1,866 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Grocery Outlet were worth $251,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the period. Innealta Capital LLC bought a new stake in Grocery Outlet in the second quarter valued at approximately $38,000. Capital Performance Advisors LLP purchased a new stake in shares of Grocery Outlet during the third quarter valued at approximately $32,000. Arizona State Retirement System increased its stake in shares of Grocery Outlet by 7.2% in the second quarter. Arizona State Retirement System now owns 27,779 shares of the company’s stock worth $614,000 after buying an additional 1,862 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Grocery Outlet by 21.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,995 shares of the company’s stock valued at $376,000 after buying an additional 3,050 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Stock Performance

Shares of Grocery Outlet stock opened at $19.11 on Friday. The business has a fifty day simple moving average of $17.80 and a two-hundred day simple moving average of $18.89. The firm has a market capitalization of $1.86 billion, a P/E ratio of 37.47, a P/E/G ratio of 4.74 and a beta of 0.25. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. Grocery Outlet Holding Corp. has a 12 month low of $13.60 and a 12 month high of $29.80.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, beating 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 company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities analysts forecast that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GO shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Craig Hallum reduced their price target on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Melius Research began 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. TD Cowen cut Grocery Outlet from a “buy” rating to a “hold” rating and reduced their target price for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. Finally, Roth Mkm dropped their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.00.

Insider Transactions at Grocery Outlet

In other news, Director Erik D. Ragatz acquired 110,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the acquisition, the director now directly owns 539,785 shares in the company, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 4.50% of the stock is owned by insiders.

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.