Millennium Management LLC Has $12.33 Million Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Millennium Management LLC reduced its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 51.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 789,568 shares of the company's stock after selling 839,650 shares during the period. Millennium Management LLC owned approximately 0.81% of Grocery Outlet worth $12,325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Amundi raised its holdings in Grocery Outlet by 0.6% in the 4th quarter. Amundi now owns 116,139 shares of the company's stock valued at $1,895,000 after acquiring an additional 719 shares in the last quarter. Cedar Wealth Management LLC raised its holdings in Grocery Outlet by 3.9% in the 4th quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company's stock valued at $318,000 after acquiring an additional 765 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in 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 acquiring an additional 1,377 shares in the last quarter. Guggenheim Capital LLC raised its holdings in 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 acquiring an additional 1,408 shares in the last quarter. Finally, KBC Group NV raised its holdings in 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 acquiring an additional 1,736 shares in the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on GO. Jefferies Financial Group raised Grocery Outlet from a "hold" rating to a "buy" rating and lifted their price objective for the company from $13.00 to $18.00 in a report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft cut Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a report on Wednesday, February 26th. Telsey Advisory Group reiterated a "market perform" rating and issued a $16.00 price target on shares of Grocery Outlet in a research note on Wednesday, April 30th. Morgan Stanley decreased their price target on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group decreased their price target on Grocery Outlet from $14.00 to $11.00 and set a "sell" rating on the stock in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $15.62.

Grocery Outlet Price Performance

GO stock traded down $0.40 during midday trading on Thursday, reaching $13.36. 404,383 shares of the stock were exchanged, compared to its average volume of 2,435,617. The stock has a market capitalization of $1.31 billion, a PE ratio of 26.18, a P/E/G ratio of 9.08 and a beta of 0.42. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $22.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The company has a fifty day moving average price of $14.43 and a 200 day moving average price of $15.68.

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

Insiders Place Their Bets

In other Grocery Outlet news, SVP Lindsay E. Gray sold 2,741 shares of Grocery Outlet stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total transaction of $31,082.94. Following the transaction, the senior vice president now directly owns 41,448 shares of the company's stock, valued at approximately $470,020.32. The trade was a 6.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven K. Wilson sold 6,477 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total value of $73,449.18. Following the completion of the transaction, the executive vice president now directly owns 173,605 shares in the company, valued at $1,968,680.70. This represents a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 209,000 shares of company stock valued at $2,592,990 and have sold 19,124 shares valued at $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.