CenterBook Partners LP Takes Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

CenterBook Partners LP purchased a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 250,796 shares of the company's stock, valued at approximately $3,506,000. CenterBook Partners LP owned about 0.26% of Grocery Outlet as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Grocery Outlet by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,326,657 shares of the company's stock valued at $18,547,000 after buying an additional 18,026 shares during the period. Vanguard Group Inc. raised its position in Grocery Outlet by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company's stock valued at $149,830,000 after buying an additional 582,822 shares during the last quarter. Blair William & Co. IL acquired a new stake in Grocery Outlet in the 1st quarter valued at approximately $140,000. Jefferies Financial Group Inc. acquired a new stake in Grocery Outlet in the 1st quarter valued at approximately $1,057,000. Finally, US Bancorp DE raised its position in Grocery Outlet by 64.2% in the 1st quarter. US Bancorp DE now owns 3,024 shares of the company's stock valued at $42,000 after buying an additional 1,182 shares during the last quarter. Institutional investors own 99.87% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Telsey Advisory Group reissued a "market perform" rating and issued a $16.00 target price on shares of Grocery Outlet in a research report on Wednesday, April 30th. Wells Fargo & Company boosted their price target on Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. UBS Group boosted their price target on Grocery Outlet from $14.50 to $17.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Jefferies Financial Group raised Grocery Outlet from a "hold" rating to a "buy" rating and boosted their price target for the stock from $13.00 to $18.00 in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $15.62.

Grocery Outlet Stock Performance

Shares of NASDAQ GO traded up $0.05 during midday trading on Friday, hitting $13.77. 2,249,103 shares of the company's stock were exchanged, compared to its average volume of 2,643,565. The company has a quick ratio of 0.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.39. Grocery Outlet Holding Corp. has a 12 month low of $10.26 and a 12 month high of $21.83. The company's 50 day moving average price is $13.42 and its 200 day moving average price is $14.40. The firm has a market capitalization of $1.35 billion, a PE ratio of 86.07, a price-to-earnings-growth ratio of 4.32 and a beta of 0.29.

Grocery Outlet (NASDAQ:GO - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Grocery Outlet had a return on equity of 6.21% and a net margin of 0.39%. The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. As a group, analysts predict that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Insider Transactions at Grocery Outlet

In other news, Director Erik D. Ragatz purchased 19,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average cost of $14.46 per share, for a total transaction of $274,740.00. Following the purchase, the director directly owned 19,000 shares of the company's stock, valued at $274,740. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.