New York State Common Retirement Fund Sells 11,106 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

New York State Common Retirement Fund lowered its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 15.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,908 shares of the company’s stock after selling 11,106 shares during the quarter. New York State Common Retirement Fund owned 0.06% of Grocery Outlet worth $1,696,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Grocery Outlet by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,171,964 shares of the company’s stock worth $264,611,000 after purchasing an additional 217,421 shares in the last quarter. Mackenzie Financial Corp lifted its position in Grocery Outlet by 4.6% in the 4th quarter. Mackenzie Financial Corp now owns 4,926,336 shares of the company’s stock valued at $132,814,000 after acquiring an additional 216,257 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Grocery Outlet by 6.6% during the 3rd quarter. Clearbridge Investments LLC now owns 2,533,464 shares of the company’s stock valued at $73,090,000 after purchasing an additional 157,332 shares during the last quarter. Van Berkom & Associates Inc. increased its holdings in Grocery Outlet by 62.4% during the 3rd quarter. Van Berkom & Associates Inc. now owns 2,394,826 shares of the company’s stock worth $69,091,000 after purchasing an additional 920,032 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Grocery Outlet by 1.7% in the fourth quarter. Federated Hermes Inc. now owns 1,453,032 shares of the company’s stock worth $39,174,000 after purchasing an additional 24,530 shares during the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Stock Performance

NASDAQ:GO opened at $20.92 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 0.43. The company has a market capitalization of $2.09 billion, a P/E ratio of 26.47, a P/E/G ratio of 2.47 and a beta of 0.13. Grocery Outlet Holding Corp. has a 1 year low of $19.73 and a 1 year high of $36.54. The business has a fifty day simple moving average of $26.83 and a two-hundred day simple moving average of $27.03.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. The business had revenue of $989.82 million for the quarter, compared to the consensus estimate of $982.44 million. On average, analysts expect that Grocery Outlet Holding Corp. will post 0.95 earnings per share for the current year.

Insider Buying and Selling at Grocery Outlet

In other news, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total value of $58,000.00. Following the completion of the transaction, the director now directly owns 11,400 shares of the company’s stock, valued at $330,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Thomas F. Herman sold 1,000 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total value of $29,000.00. Following the transaction, the director now owns 10,400 shares of the company’s stock, valued at approximately $301,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas F. Herman sold 2,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $29.00, for a total value of $58,000.00. Following the transaction, the director now owns 11,400 shares in the company, valued at $330,600. The disclosure for this sale can be found here. Insiders have sold 506,588 shares of company stock valued at $13,367,577 in the last 90 days. 4.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GO shares. UBS Group decreased their price target on Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday. The Goldman Sachs Group dropped their price target on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday. Telsey Advisory Group reduced their price objective on shares of Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating for the company in a research report on Wednesday. Roth Mkm cut their target price on Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Wednesday, February 28th. Two 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’s stock. According to data from MarketBeat, Grocery Outlet presently has a consensus rating of “Hold” and an average price target of $29.33.

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.