Northern Trust Corp Purchases 288,528 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Northern Trust Corp grew its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 38.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,035,271 shares of the company's stock after acquiring an additional 288,528 shares during the quarter. Northern Trust Corp owned 1.07% of Grocery Outlet worth $16,161,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC boosted its position in Grocery Outlet by 1,224.1% during the third quarter. Barclays PLC now owns 300,393 shares of the company's stock valued at $5,271,000 after purchasing an additional 277,706 shares during the last quarter. Sterling Capital Management LLC boosted its position in Grocery Outlet by 53.9% during the fourth quarter. Sterling Capital Management LLC now owns 5,808 shares of the company's stock valued at $91,000 after purchasing an additional 2,034 shares during the last quarter. Choreo LLC acquired a new stake in shares of Grocery Outlet in the fourth quarter valued at approximately $245,000. New York State Common Retirement Fund lifted its position in shares of Grocery Outlet by 124.7% in the fourth quarter. New York State Common Retirement Fund now owns 88,350 shares of the company's stock valued at $1,379,000 after buying an additional 49,035 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Grocery Outlet in the fourth quarter valued at approximately $1,079,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Grocery Outlet Stock Performance

Grocery Outlet stock traded down $0.10 during trading on Tuesday, hitting $14.03. The stock had a trading volume of 76,383 shares, compared to its average volume of 2,397,265. Grocery Outlet Holding Corp. has a 1 year low of $10.26 and a 1 year high of $23.25. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The stock's 50 day moving average is $14.29 and its two-hundred day moving average is $15.79. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 9.08 and a beta of 0.42.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.07 by $0.06. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. Grocery Outlet's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. As a group, analysts predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Insiders Place Their Bets

In other Grocery Outlet news, CFO Christopher M. Miller acquired 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the transaction, the chief financial officer now owns 10,000 shares of the company's stock, valued at approximately $116,800. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erik D. Ragatz acquired 19,000 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average price of $14.46 per share, for a total transaction of $274,740.00. Following the transaction, the director now directly owns 19,000 shares of the company's stock, valued at $274,740. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 219,000 shares of company stock worth $2,709,790 and have sold 17,756 shares worth $216,892. Company insiders own 4.50% of the company's stock.

Analyst Upgrades and Downgrades

GO has been the topic of a number of recent research reports. Bank of America lowered their target price on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company boosted their price objective on Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Jefferies Financial Group upgraded Grocery Outlet from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $13.00 to $18.00 in a research report on Wednesday, April 16th. Morgan Stanley dropped their price objective 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. Finally, UBS Group boosted 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. Two equities 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 given a strong buy rating to the company. Based on data from MarketBeat, Grocery Outlet presently has an average rating of "Hold" and an average 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.