Man Group plc Has $1.08 Million Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Man Group plc cut its stake in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 50.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,330 shares of the company's stock after selling 71,395 shares during the quarter. Man Group plc owned 0.07% of Grocery Outlet worth $1,082,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GO. Barclays PLC grew its position in shares of Grocery Outlet by 1,224.1% in the 3rd quarter. Barclays PLC now owns 300,393 shares of the company's stock valued at $5,271,000 after purchasing an additional 277,706 shares during the period. SG Americas Securities LLC acquired a new position in shares of Grocery Outlet in the 4th quarter valued at approximately $658,000. Janney Montgomery Scott LLC acquired a new position in shares of Grocery Outlet in the 4th quarter valued at approximately $869,000. KBC Group NV grew its position in shares of Grocery Outlet by 62.7% in the 4th quarter. KBC Group NV now owns 4,506 shares of the company's stock valued at $70,000 after purchasing an additional 1,736 shares during the period. Finally, Washington Capital Management Inc. grew its position in shares of Grocery Outlet by 27.4% in the 4th quarter. Washington Capital Management Inc. now owns 28,400 shares of the company's stock valued at $443,000 after purchasing an additional 6,100 shares during the period. 99.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GO. Bank of America decreased their price objective on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Morgan Stanley reduced their price target on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group reduced their price target on Grocery Outlet from $14.00 to $11.00 and set a "sell" rating for the company in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company upped their price target on Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Grocery Outlet currently has an average rating of "Hold" and an average target price of $15.62.

Grocery Outlet Stock Performance

GO traded down $0.40 during trading hours on Thursday, reaching $13.36. The company's stock had a trading volume of 404,383 shares, compared to its average volume of 2,435,617. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The firm has a market cap of $1.31 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 9.08 and a beta of 0.42. The company's 50-day moving average is $14.43 and its 200-day moving average is $15.68. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $22.55.

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

Insiders Place Their Bets

In related news, Director Erik D. Ragatz purchased 165,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $12.25 per share, for a total transaction of $2,021,250.00. Following the completion of the transaction, the director now owns 201,500 shares of the company's stock, valued at approximately $2,468,375. This trade represents a 452.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Lindsay E. Gray sold 2,741 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total value of $31,082.94. Following the completion of the transaction, the senior vice president now owns 41,448 shares in the company, valued at $470,020.32. The trade was a 6.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 209,000 shares of company stock worth $2,592,990 and have sold 19,124 shares worth $235,730. Company insiders own 4.50% of the company's stock.

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.