Raymond James Financial Inc. Invests $1.08 Million in Grocery Outlet Holding Corp. (NASDAQ:GO)

Raymond James Financial Inc. bought a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 69,095 shares of the company's stock, valued at approximately $1,079,000. Raymond James Financial Inc. owned about 0.07% of Grocery Outlet as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In related news, Director Erik D. Ragatz purchased 165,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $12.25 per share, for a total transaction of $2,021,250.00. Following the transaction, the director now owns 201,500 shares of the company's stock, valued at $2,468,375. This trade represents a 452.05 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christopher M. Miller purchased 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $11.68 per share, for a total transaction of $116,800.00. Following the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at approximately $116,800. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 200,000 shares of company stock valued at $2,435,050 and sold 17,756 shares valued at $216,892. 4.50% of the stock is owned by company insiders.

Analyst Ratings Changes

GO has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a research report on Wednesday, February 26th. Jefferies Financial Group raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and boosted their price objective for the company from $13.00 to $18.00 in a research note on Wednesday, April 16th. Wells Fargo & Company increased their target price on Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research report on Wednesday. Bank of America dropped their price target on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a report on Wednesday, April 30th. Two 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.62.

Grocery Outlet Stock Down 3.9 %

Grocery Outlet stock traded down $0.58 during midday trading on Friday, hitting $14.40. 4,484,140 shares of the stock were exchanged, compared to its average volume of 2,391,139. The company has a 50 day moving average price of $14.11 and a two-hundred day moving average price of $15.87. 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 firm has a market cap of $1.41 billion, a P/E ratio of 28.24, a P/E/G ratio of 9.08 and a beta of 0.42. Grocery Outlet Holding Corp. has a 1 year low of $10.26 and a 1 year high of $23.25.

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

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.