First Trust Advisors LP Increases Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

First Trust Advisors LP lifted its position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 232.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 688,691 shares of the company's stock after buying an additional 481,223 shares during the quarter. First Trust Advisors LP owned approximately 0.71% of Grocery Outlet worth $10,750,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Senvest Management LLC grew its position in Grocery Outlet by 88.3% in the fourth quarter. Senvest Management LLC now owns 1,569,656 shares of the company's stock worth $24,502,000 after acquiring an additional 735,931 shares in the last quarter. Granite Investment Partners LLC bought a new position in shares of Grocery Outlet during the fourth quarter valued at about $7,914,000. Boston Partners raised its stake in Grocery Outlet by 48.5% in the fourth quarter. Boston Partners now owns 1,395,238 shares of the company's stock worth $21,776,000 after buying an additional 455,893 shares in the last quarter. Barclays PLC raised its stake in Grocery Outlet by 1,224.1% in the third quarter. Barclays PLC now owns 300,393 shares of the company's stock worth $5,271,000 after buying an additional 277,706 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in Grocery Outlet by 9.4% in the fourth quarter. Clearbridge Investments LLC now owns 3,158,059 shares of the company's stock worth $49,297,000 after buying an additional 272,285 shares in the last quarter. 99.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, CFO Christopher M. Miller purchased 10,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $11.68 per share, with a total value of $116,800.00. Following the purchase, the chief financial officer now owns 10,000 shares of the company's stock, valued at approximately $116,800. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven K. Wilson sold 6,682 shares of Grocery Outlet stock in a transaction on Monday, March 10th. The shares were sold at an average price of $13.16, for a total value of $87,935.12. Following the sale, the executive vice president now directly owns 166,923 shares of the company's stock, valued at approximately $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 bought 200,000 shares of company stock worth $2,435,050 and sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GO. Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price objective on the stock. in a report on Wednesday, February 26th. Wells Fargo & Company dropped their target price on shares of Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group reduced their price objective on Grocery Outlet from $14.00 to $11.00 and set a "sell" rating for the company in a research report on Thursday, February 27th. Bank of America reduced their price objective on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Finally, Telsey Advisory Group reduced their price target on Grocery Outlet from $18.00 to $16.00 and set a "market perform" rating for the company in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $15.46.

Grocery Outlet Stock Performance

NASDAQ GO opened at $16.03 on Tuesday. The stock has a market capitalization of $1.57 billion, a PE ratio of 31.43, a P/E/G ratio of 9.08 and a beta of 0.40. The business has a 50 day simple moving average of $13.63 and a two-hundred day simple moving average of $15.91. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. Grocery Outlet Holding Corp. has a 1-year low of $10.26 and a 1-year high of $26.55.

About Grocery Outlet

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.

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