Cetera Investment Advisers Invests $2.35 Million in Grocery Outlet Holding Corp. (NASDAQ:GO)

Cetera Investment Advisers bought a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 168,007 shares of the company's stock, valued at approximately $2,349,000. Cetera Investment Advisers owned approximately 0.17% of Grocery Outlet as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of GO. Pictet Asset Management Holding SA grew its holdings in Grocery Outlet by 37.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 19,702 shares of the company's stock valued at $308,000 after buying an additional 5,411 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Grocery Outlet by 26.1% during the fourth quarter. Russell Investments Group Ltd. now owns 736,179 shares of the company's stock valued at $11,492,000 after purchasing an additional 152,572 shares in the last quarter. Quadrant Capital Group LLC lifted its position in 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 last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Grocery Outlet in the 4th quarter valued at about $41,000. Finally, Invesco Ltd. boosted its holdings in shares of Grocery Outlet by 11.1% in the 4th quarter. Invesco Ltd. now owns 834,373 shares of the company's stock worth $13,025,000 after purchasing an additional 83,043 shares during the period. Institutional investors own 99.87% of the company's stock.

Grocery Outlet Price Performance

Shares of GO opened at $18.43 on Friday. The company has a 50 day moving average of $13.57 and a two-hundred day moving average of $14.22. The company has a quick ratio of 0.25, a current ratio of 1.21 and a debt-to-equity ratio of 0.38. Grocery Outlet Holding Corp. has a twelve month low of $10.26 and a twelve month high of $21.67. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 263.32, a price-to-earnings-growth ratio of 5.97 and a beta of 0.27.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter last year, the firm earned $0.25 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. As a group, analysts predict that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on GO. Wells Fargo & Company upped their target price on shares of Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Telsey Advisory Group reiterated a "market perform" rating and issued a $16.00 target price on shares of Grocery Outlet in a report on Wednesday. UBS Group raised their price target on Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Jefferies Financial Group raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and upped their price objective for the stock from $13.00 to $18.00 in a research note on Wednesday, April 16th. Finally, Morgan Stanley raised shares of Grocery Outlet from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $13.00 to $16.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.08.

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.

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