D. E. Shaw & Co. Inc. Sells 33,980 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

D. E. Shaw & Co. Inc. reduced its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 50.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,200 shares of the company's stock after selling 33,980 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Grocery Outlet were worth $518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GO. Aster Capital Management DIFC Ltd bought a new position in shares of Grocery Outlet during the fourth quarter valued at approximately $41,000. Quadrant Capital Group LLC boosted its stake in Grocery Outlet by 276.3% during the 4th 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 in the last quarter. KBC Group NV grew its holdings in Grocery Outlet by 62.7% during the fourth quarter. KBC Group NV now owns 4,506 shares of the company's stock worth $70,000 after acquiring an additional 1,736 shares during the period. PNC Financial Services Group Inc. raised its position in Grocery Outlet by 472.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the company's stock worth $76,000 after acquiring an additional 4,040 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its stake in 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 last quarter. Institutional investors own 99.87% of the company's stock.

Insider Buying and Selling

In related news, Director Kenneth W. Alterman purchased 25,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $11.88 per share, with a total value of $297,000.00. Following the completion of the purchase, the director now directly owns 64,592 shares of the company's stock, valued at $767,352.96. This trade represents a 63.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erik D. Ragatz purchased 19,000 shares of the business's stock in a transaction dated Friday, May 9th. The shares were purchased at an average cost of $14.46 per share, for a total transaction of $274,740.00. Following the purchase, the director now directly owns 19,000 shares of the company's stock, valued at $274,740. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 19,124 shares of company stock valued at $235,730 over the last quarter. Corporate insiders own 4.50% of the company's stock.

Analyst Upgrades and Downgrades

GO has been the subject of a number of recent analyst reports. Telsey Advisory Group reiterated a "market perform" rating and issued a $16.00 price target on shares of Grocery Outlet in a research report on Wednesday, April 30th. Jefferies Financial Group upgraded Grocery Outlet from a "hold" rating to a "buy" rating and boosted their target price for the company from $13.00 to $18.00 in a research note on Wednesday, April 16th. Bank of America lowered 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. The Goldman Sachs Group cut their price target on shares of Grocery Outlet from $14.00 to $11.00 and set a "sell" rating on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley lowered their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $15.62.

Grocery Outlet Stock Performance

Shares of GO stock traded down $0.08 during trading hours on Friday, reaching $13.67. 312,797 shares of the company's stock were exchanged, compared to its average volume of 3,018,977. The stock has a market capitalization of $1.34 billion, a P/E ratio of 26.79, a P/E/G ratio of 9.08 and a beta of 0.42. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $22.55. The business has a fifty day moving average price of $14.45 and a 200-day moving average price of $15.65. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the prior year, the firm posted $0.09 EPS. The company's revenue for the quarter was up 8.6% on a year-over-year basis. Analysts predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

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.