Twinbeech Capital LP Buys New Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Twinbeech Capital LP bought a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 258,793 shares of the company's stock, valued at approximately $4,040,000. Twinbeech Capital LP owned approximately 0.27% of Grocery Outlet as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. FPR Partners LLC raised its holdings in Grocery Outlet by 15.2% during the fourth quarter. FPR Partners LLC now owns 5,991,474 shares of the company's stock worth $93,527,000 after purchasing an additional 791,474 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Grocery Outlet by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,833,955 shares of the company's stock worth $59,845,000 after purchasing an additional 35,938 shares in the last quarter. Simcoe Capital Management LLC acquired a new stake in Grocery Outlet during the fourth quarter worth approximately $53,185,000. Clearbridge Investments LLC raised its holdings in Grocery Outlet by 9.4% during the fourth quarter. Clearbridge Investments LLC now owns 3,158,059 shares of the company's stock worth $49,297,000 after purchasing an additional 272,285 shares in the last quarter. Finally, Junto Capital Management LP acquired a new stake in Grocery Outlet during the fourth quarter worth approximately $39,128,000. Institutional investors and hedge funds own 99.87% of the company's stock.

Wall Street Analyst Weigh In

GO has been the topic of a number of research analyst reports. Jefferies Financial Group raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and raised their price objective for the stock from $13.00 to $18.00 in a report on Wednesday, April 16th. Morgan Stanley cut their price objective on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft lowered shares of 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. Telsey Advisory Group restated a "market perform" rating and set a $16.00 target price on shares of Grocery Outlet in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group lowered their target price on shares of Grocery Outlet from $14.00 to $11.00 and set a "sell" rating on the stock in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, nine have assigned 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 stock currently has a consensus rating of "Hold" and a consensus price target of $15.62.

Insiders Place Their Bets

In related news, CFO Christopher M. Miller bought 10,000 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $11.68 per share, for a total transaction of $116,800.00. Following the transaction, the chief financial officer now owns 10,000 shares of the company's stock, valued at approximately $116,800. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kenneth W. Alterman bought 25,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $11.88 per share, for a total transaction of $297,000.00. Following the completion of the transaction, the director now directly owns 64,592 shares in the company, valued at approximately $767,352.96. This represents a 63.14% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 219,000 shares of company stock worth $2,709,790 and have sold 19,124 shares worth $235,730. Insiders own 4.50% of the company's stock.

Grocery Outlet Stock Performance

NASDAQ:GO traded down $0.19 during midday trading on Friday, reaching $13.29. The stock had a trading volume of 2,080,566 shares, compared to its average volume of 2,423,454. The firm has a fifty day simple moving average of $14.37 and a two-hundred day simple moving average of $15.75. Grocery Outlet Holding Corp. has a 12-month low of $10.26 and a 12-month high of $22.91. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1.30 billion, a P/E ratio of 26.06, a P/E/G ratio of 9.08 and a beta of 0.42.

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, beating analysts' consensus estimates of $0.07 by $0.06. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm posted $0.09 EPS. Grocery Outlet's quarterly revenue was up 8.6% on a year-over-year basis. On average, equities 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.