Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Sold by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC cut its position in Grocery Outlet Holding Corp. by 75.5% in the 1st quarter, now owning 7,347 shares worth about $103,000.
• Grocery Outlet reported a quarterly earnings per share of $0.23, surpassing estimates, with a revenue of $1.18 billion that showed a 4.5% year-over-year increase.
• Several analysts have upgraded Grocery Outlet's stock ratings, with target prices ranging from $16.00 to $19.00 after recent market evaluations.

Headlands Technologies LLC reduced its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 75.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,347 shares of the company's stock after selling 22,634 shares during the quarter. Headlands Technologies LLC's holdings in Grocery Outlet were worth $103,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE lifted its holdings in shares of 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 purchasing an additional 1,182 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Grocery Outlet by 9.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 15,671 shares of the company's stock valued at $245,000 after purchasing an additional 1,377 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Grocery Outlet by 9.1% in the 4th quarter. Guggenheim Capital LLC now owns 16,955 shares of the company's stock valued at $265,000 after purchasing an additional 1,408 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Grocery Outlet by 53.9% in the 4th 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, Red Spruce Capital LLC lifted its holdings in shares of Grocery Outlet by 1.6% in the 1st quarter. Red Spruce Capital LLC now owns 132,968 shares of the company's stock valued at $1,859,000 after purchasing an additional 2,044 shares during the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

Grocery Outlet Stock Performance

NASDAQ GO opened at $18.22 on Tuesday. Grocery Outlet Holding Corp. has a 1-year low of $10.26 and a 1-year high of $21.67. The company has a market capitalization of $1.79 billion, a P/E ratio of 260.32, a PEG ratio of 4.13 and a beta of 0.27. The business has a 50 day moving average price of $13.76 and a 200 day moving average price of $14.23. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.21 and a quick ratio of 0.25.

Grocery Outlet (NASDAQ:GO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $1.20 billion. During the same period last year, the business posted $0.25 EPS. Grocery Outlet's quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts expect that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GO has been the subject of several research reports. Telsey Advisory Group reissued a "market perform" rating and issued a $16.00 target price on shares of Grocery Outlet in a report on Wednesday, August 6th. Morgan Stanley raised Grocery Outlet from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $13.00 to $16.00 in a research note on Wednesday, August 6th. Craig Hallum raised Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 target price for the company in a research note on Wednesday, August 6th. UBS Group increased their target price on Grocery Outlet from $14.50 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company increased their target price on Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $16.08.

Insiders Place Their Bets

In other Grocery Outlet news, EVP Steven K. Wilson sold 20,000 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $19.20, for a total transaction of $384,000.00. Following the completion of the transaction, the executive vice president owned 146,923 shares of the company's stock, valued at approximately $2,820,921.60. This trade represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.50% of the company's stock.

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.

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