BNP Paribas Financial Markets Buys 76,355 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

BNP Paribas Financial Markets lifted its position in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 46.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 241,835 shares of the company's stock after purchasing an additional 76,355 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.25% of Grocery Outlet worth $3,775,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Barclays PLC raised its stake in 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 acquiring an additional 277,706 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Grocery Outlet by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company's stock valued at $732,000 after acquiring an additional 1,240 shares during the last quarter. Decker Retirement Planning Inc. purchased a new position in shares of Grocery Outlet during the 4th quarter worth approximately $31,000. Red Spruce Capital LLC raised its stake in shares of Grocery Outlet by 10.2% during the 4th quarter. Red Spruce Capital LLC now owns 130,924 shares of the company's stock worth $2,044,000 after buying an additional 12,124 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Grocery Outlet during the 4th quarter worth approximately $658,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Telsey Advisory Group reissued a "market perform" rating and set a $16.00 target price on shares of Grocery Outlet in a research note on Wednesday, April 30th. Morgan Stanley cut their target price on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research note on Wednesday, February 26th. UBS Group raised 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. Wells Fargo & Company raised their price objective on Grocery Outlet from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group dropped their price objective on Grocery Outlet from $14.00 to $11.00 and set a "sell" rating for the company in a research note on Thursday, February 27th. Two 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. Based on data from MarketBeat, Grocery Outlet has a consensus rating of "Hold" and an average target price of $15.62.

Insider Activity at Grocery Outlet

In related news, SVP Lindsay E. Gray sold 2,741 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total transaction of $31,082.94. Following the completion of the sale, the senior vice president now directly owns 41,448 shares of the company's stock, valued at $470,020.32. This trade represents a 6.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Erik D. Ragatz acquired 19,000 shares of Grocery Outlet stock in a transaction on Friday, May 9th. The stock was acquired at an average cost of $14.46 per share, for a total transaction of $274,740.00. Following the purchase, the director now owns 19,000 shares of the company's stock, valued at approximately $274,740. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 219,000 shares of company stock worth $2,709,790 and sold 17,756 shares worth $216,892. 4.50% of the stock is owned by corporate insiders.

Grocery Outlet Stock Down 0.9%

Shares of NASDAQ:GO traded down $0.13 during midday trading on Tuesday, hitting $14.00. 165,231 shares of the stock were exchanged, compared to its average volume of 2,397,599. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. Grocery Outlet Holding Corp. has a 52-week low of $10.26 and a 52-week high of $23.25. The business's fifty day simple moving average is $14.29 and its two-hundred day simple moving average is $15.79. The company has a market capitalization of $1.37 billion, a PE ratio of 27.49, a P/E/G ratio of 9.08 and a beta of 0.42.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.13 EPS 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 the consensus estimate 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 period in the prior year, the business posted $0.09 earnings per share. As a group, research analysts predict that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

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.