Jackson Square Partners LLC Has $20.13 Million Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Key Points

• Jackson Square Partners LLC reduced its stake in Grocery Outlet by 31.8% in the first quarter, now holding 1,440,220 shares, making it the 17th largest holding in their portfolio.
• Grocery Outlet received several analyst upgrades, with Wells Fargo raising its price target from $18.00 to $19.00 and maintaining an "overweight" rating.
• Grocery Outlet's stock has increased by 42.7%, currently trading at $18.58, with a reported quarterly earnings per share of $0.23, outperforming analyst expectations.

Jackson Square Partners LLC decreased its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 31.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,440,220 shares of the company's stock after selling 671,876 shares during the quarter. Grocery Outlet makes up approximately 2.7% of Jackson Square Partners LLC's holdings, making the stock its 17th largest holding. Jackson Square Partners LLC owned about 1.47% of Grocery Outlet worth $20,134,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in GO. Vanguard Group Inc. increased its stake in Grocery Outlet by 5.8% in the first quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company's stock valued at $149,830,000 after acquiring an additional 582,822 shares during the last quarter. FPR Partners LLC raised its holdings in shares of Grocery Outlet by 15.2% in the 4th quarter. FPR Partners LLC now owns 5,991,474 shares of the company's stock worth $93,527,000 after acquiring an additional 791,474 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Grocery Outlet by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,833,955 shares of the company's stock worth $59,845,000 after buying an additional 35,938 shares in the last quarter. Simcoe Capital Management LLC purchased a new stake in shares of Grocery Outlet during the 4th quarter worth approximately $53,185,000. Finally, Junto Capital Management LP purchased a new stake in shares of Grocery Outlet during the 4th quarter worth approximately $39,128,000. Institutional investors and hedge funds own 99.87% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Telsey Advisory Group reissued a "market perform" rating and issued a $16.00 price target on shares of Grocery Outlet in a research note on Wednesday, August 6th. Wells Fargo & Company boosted their price target on shares of Grocery Outlet from $18.00 to $19.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Morgan Stanley upgraded shares of Grocery Outlet from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $13.00 to $16.00 in a research note on Wednesday, August 6th. UBS Group increased their price target 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, Craig Hallum upgraded shares of Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 price objective on the stock in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Grocery Outlet presently has a consensus rating of "Hold" and an average price target of $16.08.

Grocery Outlet Stock Performance

Grocery Outlet stock traded down $0.41 during trading hours on Monday, reaching $18.13. 1,719,781 shares of the stock were exchanged, compared to its average volume of 3,276,250. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.25 and a current ratio of 1.21. Grocery Outlet Holding Corp. has a 52-week low of $10.26 and a 52-week high of $21.67. The stock has a market cap of $1.78 billion, a P/E ratio of 258.39, a P/E/G ratio of 4.13 and a beta of 0.27. The firm's 50 day moving average is $13.67 and its 200 day moving average is $14.22.

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

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.