Envestnet Asset Management Inc. Sells 18,153 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Envestnet Asset Management Inc. cut its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 39.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,355 shares of the company's stock after selling 18,153 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Grocery Outlet were worth $382,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in Grocery Outlet in the fourth quarter valued at approximately $41,000. Quadrant Capital Group LLC lifted its position in Grocery Outlet by 276.3% in 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. GAMMA Investing LLC lifted its position in Grocery Outlet by 236.0% in the first quarter. GAMMA Investing LLC now owns 5,188 shares of the company's stock valued at $73,000 after purchasing an additional 3,644 shares during the last quarter. Sterling Capital Management LLC lifted its position 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 purchasing an additional 2,034 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Grocery Outlet by 81.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company's stock valued at $105,000 after purchasing an additional 3,000 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on GO shares. Craig Hallum upgraded Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 target price for the company in a report on Wednesday. Wells Fargo & Company upped their target price on Grocery Outlet from $18.00 to $19.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Jefferies Financial Group upgraded Grocery Outlet from a "hold" rating to a "buy" rating and upped their target price for the company from $13.00 to $18.00 in a report on Wednesday, April 16th. UBS Group upped their target price on Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley upgraded Grocery Outlet from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $13.00 to $16.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $16.08.

Grocery Outlet Stock Up 0.6%

Shares of NASDAQ GO traded up $0.11 during trading on Friday, reaching $18.54. The company had a trading volume of 5,619,094 shares, compared to its average volume of 3,697,051. Grocery Outlet Holding Corp. has a 12-month low of $10.26 and a 12-month high of $21.67. The stock has a market cap of $1.82 billion, a PE ratio of 264.89, a P/E/G ratio of 4.25 and a beta of 0.27. The business's 50-day moving average is $13.67 and its 200 day moving average is $14.23. 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 (NASDAQ:GO - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.23 EPS 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 for the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The company's quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

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.