Point72 Asset Management L.P. Sells 72,610 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Point72 Asset Management L.P. cut its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,162,468 shares of the company's stock after selling 72,610 shares during the quarter. Point72 Asset Management L.P. owned about 1.20% of Grocery Outlet worth $18,146,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GO. Junto Capital Management LP bought a new stake in Grocery Outlet during the 4th quarter worth approximately $39,128,000. Freestone Grove Partners LP bought a new position in Grocery Outlet during the 4th quarter worth about $13,602,000. FPR Partners LLC raised its stake 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 valued at $93,527,000 after purchasing an additional 791,474 shares during the period. Senvest Management LLC lifted its holdings in shares of Grocery Outlet by 88.3% in the fourth quarter. Senvest Management LLC now owns 1,569,656 shares of the company's stock valued at $24,502,000 after purchasing an additional 735,931 shares in the last quarter. Finally, Granite Investment Partners LLC acquired a new position in shares of Grocery Outlet during the fourth quarter worth about $7,914,000. 99.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price on the stock. in a research report on Wednesday, February 26th. Morgan Stanley reduced their price objective on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research note on Wednesday, February 26th. Bank of America lowered their target price on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Jefferies Financial Group upgraded Grocery Outlet from a "hold" rating to a "buy" rating and raised their price target for the company from $13.00 to $18.00 in a research note on Wednesday, April 16th. Finally, UBS Group upped their price objective on Grocery Outlet from $14.50 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $15.62.

Insider Buying and Selling at Grocery Outlet

In other news, Director Erik D. Ragatz purchased 165,000 shares of the business's stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $12.25 per share, with a total value of $2,021,250.00. Following the acquisition, the director now owns 201,500 shares in the company, valued at approximately $2,468,375. The trade was a 452.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Steven K. Wilson sold 6,682 shares of Grocery Outlet stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $13.16, for a total transaction of $87,935.12. Following the completion of the transaction, the executive vice president now directly owns 166,923 shares in the company, valued at $2,196,706.68. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 219,000 shares of company stock valued at $2,709,790 and sold 17,756 shares valued at $216,892. Insiders own 4.50% of the company's stock.

Grocery Outlet Stock Performance

Shares of NASDAQ:GO traded down $0.53 on Wednesday, hitting $13.44. The company had a trading volume of 3,549,066 shares, compared to its average volume of 2,413,291. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 9.08 and a beta of 0.42. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average price of $14.32 and a 200 day moving average price of $15.78. Grocery Outlet Holding Corp. has a 1-year low of $10.26 and a 1-year high of $23.25.

Grocery Outlet (NASDAQ:GO - Get Free Report) last released its quarterly earnings results 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. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period last year, the firm posted $0.09 EPS. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts expect that Grocery Outlet Holding Corp. will post 0.63 EPS for the current 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.