Freestone Grove Partners LP Invests $13.60 Million in Grocery Outlet Holding Corp. (NASDAQ:GO)

Freestone Grove Partners LP acquired a new position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 871,369 shares of the company's stock, valued at approximately $13,602,000. Freestone Grove Partners LP owned about 0.90% of Grocery Outlet at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GO. Decker Retirement Planning Inc. acquired a new stake in shares of Grocery Outlet in the 4th quarter worth $31,000. Aster Capital Management DIFC Ltd acquired a new stake in Grocery Outlet in the fourth quarter worth about $41,000. Quadrant Capital Group LLC grew its stake in shares of Grocery Outlet by 276.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company's stock worth $43,000 after acquiring an additional 2,036 shares during the last quarter. KBC Group NV increased its holdings in shares of Grocery Outlet by 62.7% during the fourth quarter. KBC Group NV now owns 4,506 shares of the company's stock valued at $70,000 after acquiring an additional 1,736 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Grocery Outlet by 472.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the company's stock valued at $76,000 after purchasing an additional 4,040 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GO shares. 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 research note on Thursday, February 27th. Bank of America reduced their target price on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Morgan Stanley dropped their price target on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 26th. Telsey Advisory Group restated a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company dropped their target price on Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $15.46.

Insiders Place Their Bets

In related news, Director Erik D. Ragatz acquired 165,000 shares of Grocery Outlet stock in a transaction on Friday, February 28th. The stock was bought 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 owns 201,500 shares of the company's stock, 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 link. Also, CFO Christopher M. Miller bought 10,000 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was bought at an average price 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 disclosure for this purchase can be found here. Over the last quarter, insiders bought 200,000 shares of company stock worth $2,435,050 and sold 17,756 shares worth $216,892. Insiders own 4.50% of the company's stock.

Grocery Outlet Stock Performance

Shares of GO traded down $0.18 during trading hours on Monday, hitting $16.30. The stock had a trading volume of 5,675,467 shares, compared to its average volume of 2,365,079. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 31.96, a PEG 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 firm has a 50-day moving average price of $13.71 and a 200 day moving average price of $15.91. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $26.21.

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.