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

Point72 Asset Management L.P. cut its stake in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,162,468 shares of the company's stock after selling 72,610 shares during the period. Point72 Asset Management L.P. owned 1.20% of Grocery Outlet worth $18,146,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Quantinno Capital Management LP purchased a new stake in shares of Grocery Outlet in the 4th quarter worth about $879,000. Nuveen Asset Management LLC grew its holdings in Grocery Outlet by 20.5% in the fourth quarter. Nuveen Asset Management LLC now owns 522,961 shares of the company's stock worth $8,163,000 after purchasing an additional 88,805 shares during the period. Lighthouse Investment Partners LLC bought a new position in shares of Grocery Outlet during the fourth quarter valued at approximately $1,231,000. Interval Partners LP lifted its holdings in shares of Grocery Outlet by 190.3% during the fourth quarter. Interval Partners LP now owns 290,267 shares of the company's stock valued at $4,531,000 after purchasing an additional 190,267 shares during the last quarter. Finally, Junto Capital Management LP bought a new stake in shares of Grocery Outlet in the 4th quarter worth approximately $39,128,000. 99.87% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Steven K. Wilson sold 6,477 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total transaction of $73,449.18. Following the sale, the executive vice president now directly owns 173,605 shares in the company, valued at $1,968,680.70. This trade represents a 3.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Lindsay E. Gray sold 2,741 shares of Grocery Outlet stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total transaction of $31,082.94. Following the transaction, the senior vice president now owns 41,448 shares in the company, valued at approximately $470,020.32. This trade represents a 6.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 219,000 shares of company stock valued at $2,709,790 and sold 19,124 shares valued at $235,730. Insiders own 4.50% of the company's stock.

Grocery Outlet Stock Performance

Shares of GO stock traded down $0.05 on Friday, reaching $13.43. The stock had a trading volume of 401,960 shares, compared to its average volume of 3,007,299. The stock has a market cap of $1.32 billion, a P/E ratio of 26.33, a price-to-earnings-growth ratio of 9.08 and a beta of 0.42. 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 company has a 50 day simple moving average of $14.36 and a 200 day simple moving average of $15.76. Grocery Outlet Holding Corp. has a 1 year low of $10.26 and a 1 year high of $22.91.

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 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 net margin of 1.20% and a return on equity of 5.25%. The business's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 EPS. Equities research analysts expect that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Analyst Upgrades and Downgrades

GO has been the subject of a number of recent research reports. UBS Group lifted their price objective on Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley dropped their price target on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 26th. Bank of America reduced their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company upped their target price on shares of Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group cut their price target on shares of Grocery Outlet from $14.00 to $11.00 and set a "sell" rating on the stock in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $15.62.

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.