Deutsche Bank AG Grows Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Deutsche Bank AG boosted its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 834.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,122 shares of the company's stock after purchasing an additional 92,085 shares during the quarter. Deutsche Bank AG owned approximately 0.11% of Grocery Outlet worth $1,610,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GO. Aster Capital Management DIFC Ltd acquired a new position in shares of Grocery Outlet during the fourth quarter worth $41,000. Quadrant Capital Group LLC grew its position in shares of Grocery Outlet by 276.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company's stock valued at $43,000 after buying an additional 2,036 shares during the last quarter. KBC Group NV raised its stake in Grocery Outlet by 62.7% during the 4th quarter. KBC Group NV now owns 4,506 shares of the company's stock worth $70,000 after acquiring an additional 1,736 shares in the last quarter. PNC Financial Services Group Inc. lifted 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 valued at $76,000 after acquiring an additional 4,040 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its stake in Grocery Outlet by 53.9% in the fourth quarter. Sterling Capital Management LLC now owns 5,808 shares of the company's stock valued at $91,000 after acquiring an additional 2,034 shares in the last quarter. Institutional investors and hedge funds own 99.87% of the company's stock.

Grocery Outlet Price Performance

Shares of GO traded down $0.01 during trading hours on Thursday, reaching $13.74. The company had a trading volume of 3,833,704 shares, compared to its average volume of 2,455,495. 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 $10.26 and a 12-month high of $22.55. The firm has a 50 day simple moving average of $14.45 and a 200-day simple moving average of $15.65. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 9.08 and a beta of 0.42.

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

Analysts Set New Price Targets

A number of research firms have recently commented on GO. Morgan Stanley cut their target price on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a research note on Wednesday, February 26th. Telsey Advisory Group reissued a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a report on Wednesday, April 30th. UBS Group lifted their target price on shares of Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Jefferies Financial Group upgraded shares of Grocery Outlet from a "hold" rating to a "buy" rating and increased their price target for the stock from $13.00 to $18.00 in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $15.62.

Insider Buying and Selling

In related news, Director Kenneth W. Alterman bought 25,000 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $11.88 per share, for a total transaction of $297,000.00. Following the acquisition, the director now owns 64,592 shares in the company, valued at $767,352.96. This represents a 63.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Erik D. Ragatz purchased 165,000 shares of the company's stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $12.25 per share, with a total value of $2,021,250.00. Following the transaction, the director now directly owns 201,500 shares of the company's stock, valued at $2,468,375. This represents a 452.05% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 209,000 shares of company stock valued at $2,592,990 and sold 19,124 shares valued at $235,730. 4.50% of the stock is currently 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.