Interval Partners LP Purchases 190,267 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Interval Partners LP lifted its stake in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 190.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,267 shares of the company's stock after purchasing an additional 190,267 shares during the quarter. Interval Partners LP owned about 0.30% of Grocery Outlet worth $4,531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Junto Capital Management LP purchased a new position in Grocery Outlet in the 4th quarter worth approximately $39,128,000. Eisler Capital Management Ltd. purchased a new position in Grocery Outlet in the 4th quarter worth approximately $2,122,000. FPR Partners LLC raised its holdings in Grocery Outlet by 15.2% in the 4th quarter. FPR Partners LLC now owns 5,991,474 shares of the company's stock worth $93,527,000 after acquiring an additional 791,474 shares during the last quarter. Deutsche Bank AG raised its holdings in Grocery Outlet by 834.3% in the 4th quarter. Deutsche Bank AG now owns 103,122 shares of the company's stock worth $1,610,000 after acquiring an additional 92,085 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Grocery Outlet by 46.1% in the 4th quarter. BNP Paribas Financial Markets now owns 241,835 shares of the company's stock worth $3,775,000 after acquiring an additional 76,355 shares during the last quarter. 99.87% of the stock is owned by institutional investors.

Grocery Outlet Stock Performance

Shares of NASDAQ:GO traded down $0.23 during midday trading on Wednesday, hitting $13.48. The company had a trading volume of 3,808,979 shares, compared to its average volume of 2,406,555. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 9.08 and a beta of 0.42. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The company has a fifty day moving average of $14.21 and a two-hundred day moving average of $15.81. Grocery Outlet Holding Corp. has a 12-month low of $10.26 and a 12-month high of $23.25.

Grocery Outlet (NASDAQ:GO - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.06. The company had revenue of $1.13 billion during 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%. Grocery Outlet's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. On average, equities research analysts expect that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Steven K. Wilson sold 6,477 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total value of $73,449.18. Following the completion of the transaction, the executive vice president now owns 173,605 shares of the company's stock, valued at approximately $1,968,680.70. This trade represents a 3.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher M. Miller purchased 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $11.68 per share, with a total value of $116,800.00. Following the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at $116,800. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 219,000 shares of company stock valued at $2,709,790 and sold 17,756 shares valued at $216,892. 4.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GO. Jefferies Financial Group upgraded shares of Grocery Outlet from a "hold" rating to a "buy" rating and boosted their target price for the company from $13.00 to $18.00 in a research note on Wednesday, April 16th. Wells Fargo & Company boosted their target price on shares of Grocery Outlet from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Bank of America decreased their target price on shares of 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 decreased their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group decreased their target price on shares of 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 equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus 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.