Jefferies Financial Group Inc. Makes New $1.06 Million Investment in Grocery Outlet Holding Corp. (NASDAQ:GO)

Key Points

• Jefferies Financial Group Inc. has acquired a new stake in Grocery Outlet Holding Corp., purchasing 75,640 shares valued at approximately $1,057,000 during the first quarter.
• The company reported $0.13 earnings per share for the last quarter, exceeding analysts' expectations, with a revenue increase of 8.6% year-over-year.
• Multiple analysts have raised their target prices for Grocery Outlet, with UBS increasing its target to $17.00 and Wells Fargo to $19.00, while maintaining a mixed rating among them.

Jefferies Financial Group Inc. bought a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 75,640 shares of the company's stock, valued at approximately $1,057,000. Jefferies Financial Group Inc. owned 0.08% of Grocery Outlet at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GO. US Bancorp DE boosted its holdings in shares of Grocery Outlet by 64.2% during the 1st quarter. US Bancorp DE now owns 3,024 shares of the company's stock valued at $42,000 after acquiring an additional 1,182 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Grocery Outlet by 9.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 15,671 shares of the company's stock worth $245,000 after buying an additional 1,377 shares during the period. Guggenheim Capital LLC grew its stake 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 buying an additional 1,408 shares during the period. Sterling Capital Management LLC lifted its stake in shares of 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 buying an additional 2,034 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in 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. 99.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Telsey Advisory Group restated a "market perform" rating and set a $16.00 price target on shares of Grocery Outlet in a research report on Wednesday. Jefferies Financial Group raised Grocery Outlet from a "hold" rating to a "buy" rating and upped their target price for the stock from $13.00 to $18.00 in a research note on Wednesday, April 16th. UBS Group raised their price target on shares of Grocery Outlet from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Wells Fargo & Company upped their target price on Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley raised Grocery Outlet from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $13.00 to $16.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Grocery Outlet has an average rating of "Hold" and a consensus price target of $16.08.

Grocery Outlet Price Performance

Shares of NASDAQ GO traded up $0.51 during mid-day trading on Friday, reaching $18.94. The company's stock had a trading volume of 3,215,024 shares, compared to its average volume of 3,269,804. 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 Holding Corp. has a 52 week low of $10.26 and a 52 week high of $21.67. The stock has a fifty day moving average of $13.57 and a two-hundred day moving average of $14.22. The firm has a market capitalization of $1.86 billion, a PE ratio of 270.47, a P/E/G ratio of 5.97 and a beta of 0.27.

Grocery Outlet (NASDAQ:GO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business earned $0.25 earnings per share. Grocery Outlet's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS 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.