Grocery Outlet Holding Corp. (NASDAQ:GO) Position Boosted by Geneva Capital Management LLC

Geneva Capital Management LLC lifted its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 48.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,373,378 shares of the company's stock after purchasing an additional 446,198 shares during the period. Geneva Capital Management LLC owned about 1.38% of Grocery Outlet worth $37,026,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in Grocery Outlet by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 879,116 shares of the company's stock worth $23,701,000 after acquiring an additional 38,506 shares during the period. Amalgamated Bank increased its stake in shares of Grocery Outlet by 4.1% in the fourth quarter. Amalgamated Bank now owns 61,370 shares of the company's stock valued at $1,655,000 after purchasing an additional 2,426 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Grocery Outlet in the fourth quarter valued at approximately $3,694,000. Natixis Advisors L.P. acquired a new stake in shares of Grocery Outlet in the fourth quarter valued at approximately $291,000. Finally, Retirement Systems of Alabama increased its stake in shares of Grocery Outlet by 0.8% in the fourth quarter. Retirement Systems of Alabama now owns 124,329 shares of the company's stock valued at $3,352,000 after purchasing an additional 994 shares during the period. Institutional investors own 99.87% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Roth Mkm dropped their price target on shares of Grocery Outlet from $27.00 to $22.00 and set a "neutral" rating on the stock in a research note on Thursday. Craig Hallum upgraded shares of Grocery Outlet from a "hold" rating to a "buy" rating and set a $36.00 price objective for the company in a report on Wednesday, February 28th. The Goldman Sachs Group reduced their target price on shares of Grocery Outlet from $24.00 to $21.00 and set a "sell" rating for the company in a report on Thursday. Telsey Advisory Group reduced their target price on shares of Grocery Outlet from $37.00 to $31.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, UBS Group decreased their price objective on shares of Grocery Outlet from $30.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $29.33.

Grocery Outlet Stock Up 0.2 %

GO stock traded up $0.04 during midday trading on Thursday, reaching $20.92. The company had a trading volume of 3,051,572 shares, compared to its average volume of 1,362,395. Grocery Outlet Holding Corp. has a 1 year low of $19.73 and a 1 year high of $36.54. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.09 billion, a P/E ratio of 26.47, a PEG ratio of 2.47 and a beta of 0.13. The company has a 50 day moving average of $26.83 and a two-hundred day moving average of $27.03.

Grocery Outlet (NASDAQ:GO - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. The company had revenue of $989.82 million during the quarter, compared to the consensus estimate of $982.44 million. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. On average, equities research analysts expect that Grocery Outlet Holding Corp. will post 0.95 earnings per share for the current fiscal year.

Insider Activity

In other Grocery Outlet news, Director Thomas F. Herman sold 1,000 shares of the company's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total transaction of $29,000.00. Following the completion of the sale, the director now directly owns 10,400 shares in the company, valued at $301,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 300,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.16, for a total value of $7,848,000.00. Following the completion of the sale, the director now directly owns 107,123 shares of the company's stock, valued at approximately $2,802,337.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas F. Herman sold 1,000 shares of the firm's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $29.00, for a total transaction of $29,000.00. Following the completion of the sale, the director now owns 10,400 shares in the company, valued at $301,600. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 506,588 shares of company stock worth $13,367,577. 4.50% of the stock is owned by corporate insiders.

Grocery Outlet Company 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.

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