Ameriprise Financial Inc. Lowers Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Ameriprise Financial Inc. lowered its position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,890 shares of the company's stock after selling 19,825 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.22% of Grocery Outlet worth $3,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of GO. Aster Capital Management DIFC Ltd purchased a new stake in shares of Grocery Outlet during the fourth quarter valued at approximately $41,000. Quadrant Capital Group LLC boosted its stake in shares of Grocery Outlet by 276.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company's stock valued at $43,000 after purchasing an additional 2,036 shares during the period. KBC Group NV boosted its stake in shares of Grocery Outlet by 62.7% during the fourth quarter. KBC Group NV now owns 4,506 shares of the company's stock valued at $70,000 after purchasing an additional 1,736 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Grocery Outlet by 472.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the company's stock valued at $76,000 after purchasing an additional 4,040 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in shares of Grocery Outlet by 53.9% during the fourth quarter. Sterling Capital Management LLC now owns 5,808 shares of the company's stock valued at $91,000 after purchasing an additional 2,034 shares during the period. Hedge funds and other institutional investors own 99.87% of the company's stock.

Insider Activity at Grocery Outlet

In other news, SVP Lindsay E. Gray sold 2,741 shares of Grocery Outlet stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total value of $31,082.94. Following the completion of the transaction, the senior vice president now owns 41,448 shares in the company, valued at approximately $470,020.32. The trade was a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth W. Alterman bought 25,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $11.88 per share, with a total value of $297,000.00. Following the acquisition, the director now owns 64,592 shares in the company, valued at approximately $767,352.96. This trade represents a 63.14% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 19,124 shares of company stock valued at $235,730. 4.50% of the stock is owned by company insiders.

Grocery Outlet Stock Performance

NASDAQ:GO traded down $0.23 on Friday, hitting $13.51. The stock had a trading volume of 3,286,266 shares, compared to its average volume of 2,468,450. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 9.08 and a beta of 0.42. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The business's 50-day simple moving average is $14.47 and its two-hundred day simple moving average is $15.57. Grocery Outlet Holding Corp. has a 52-week low of $10.26 and a 52-week high of $22.55.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.06. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the previous year, the firm earned $0.09 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. As a group, research analysts predict that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on GO. Wells Fargo & Company raised their price target on Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Morgan Stanley dropped their price target on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research note on Wednesday, February 26th. Bank of America dropped their price target on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Telsey Advisory Group reiterated a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a report on Wednesday, April 30th. Finally, UBS Group increased their price objective on Grocery Outlet from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $15.62.

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.