Grocery Outlet Holding Corp. (NASDAQ:GO) Position Boosted by Northern Trust Corp

Northern Trust Corp raised its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,035,271 shares of the company's stock after acquiring an additional 288,528 shares during the period. Northern Trust Corp owned approximately 1.07% of Grocery Outlet worth $16,161,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Decker Retirement Planning Inc. purchased a new position in shares of Grocery Outlet in the fourth quarter valued at approximately $31,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Grocery Outlet in the 4th quarter valued at $41,000. Quadrant Capital Group LLC increased its holdings in shares of Grocery Outlet by 276.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company's stock valued at $43,000 after acquiring an additional 2,036 shares during the period. KBC Group NV increased its stake in Grocery Outlet by 62.7% in the 4th quarter. KBC Group NV now owns 4,506 shares of the company's stock valued at $70,000 after buying an additional 1,736 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Grocery Outlet by 472.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the company's stock worth $76,000 after purchasing an additional 4,040 shares during the period. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on GO. The Goldman Sachs Group lowered their price objective 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 cut their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group upgraded shares of Grocery Outlet from a "hold" rating to a "buy" rating and raised their price target for the company from $13.00 to $18.00 in a report on Wednesday, April 16th. Wells Fargo & Company raised their price target on shares of Grocery Outlet from $18.00 to $19.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley cut their price target on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a report on Wednesday, February 26th. Two investment 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $15.62.

Insider Buying and Selling at Grocery Outlet

In related news, EVP Steven K. Wilson sold 6,682 shares of Grocery Outlet stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $13.16, for a total transaction of $87,935.12. Following the sale, the executive vice president now directly owns 166,923 shares in the company, valued at $2,196,706.68. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erik D. Ragatz purchased 19,000 shares of the company's stock in a transaction 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 completion of the transaction, the director now 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 three months, insiders have purchased 219,000 shares of company stock worth $2,709,790 and have sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by company insiders.

Grocery Outlet Stock Up 1.8%

NASDAQ:GO traded up $0.25 during trading hours on Friday, hitting $14.22. The stock had a trading volume of 3,161,108 shares, compared to its average volume of 2,406,177. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. Grocery Outlet Holding Corp. has a 1-year low of $10.26 and a 1-year high of $23.25. The business has a 50 day simple moving average of $14.25 and a two-hundred day simple moving average of $15.79. The company has a market cap of $1.39 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 9.08 and a beta of 0.42.

Grocery Outlet (NASDAQ:GO - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.06. The business 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%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 earnings per share. Analysts predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

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.