Voloridge Investment Management LLC Buys 277,489 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Voloridge Investment Management LLC boosted its position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 28.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,239,352 shares of the company's stock after acquiring an additional 277,489 shares during the period. Voloridge Investment Management LLC owned 1.28% of Grocery Outlet worth $19,346,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Grocery Outlet by 1,224.1% during 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 in the last quarter. SG Americas Securities LLC bought a new stake in shares of Grocery Outlet during the 4th quarter valued at about $658,000. Janney Montgomery Scott LLC bought a new stake in shares of Grocery Outlet during the 4th quarter valued at about $869,000. KBC Group NV boosted its stake in shares of Grocery Outlet by 62.7% during 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 in the last quarter. Finally, Washington Capital Management Inc. boosted its stake in shares of Grocery Outlet by 27.4% during 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 in the last quarter. Institutional investors own 99.87% of the company's stock.

Grocery Outlet Stock Performance

NASDAQ GO traded down $0.15 during trading hours on Wednesday, hitting $13.87. 561,319 shares of the company's stock traded hands, compared to its average volume of 2,428,298. The business's fifty day moving average price is $14.41 and its two-hundred day moving average price is $15.69. 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 firm has a market capitalization of $1.36 billion, a P/E ratio of 27.19, 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 $22.79.

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

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz acquired 165,000 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $12.25 per share, for a total transaction of $2,021,250.00. Following the completion of the transaction, the director now directly owns 201,500 shares of the company's stock, valued at approximately $2,468,375. The trade was a 452.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Christopher M. Miller acquired 10,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares of the company's stock, valued at approximately $116,800. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 219,000 shares of company stock worth $2,709,790 and sold 19,124 shares worth $235,730. 4.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GO shares. Bank of America cut their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group lowered their price target on shares of 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 cut shares of 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. Telsey Advisory Group reissued a "market perform" rating and set a $16.00 price target on shares of Grocery Outlet in a research report on Wednesday, April 30th. Finally, UBS Group lifted their target price on shares of Grocery Outlet from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target 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.