Pictet Asset Management Holding SA Raises Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Pictet Asset Management Holding SA boosted its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 37.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,702 shares of the company’s stock after buying an additional 5,411 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Grocery Outlet were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GO. Franklin Resources Inc. grew its position in shares of Grocery Outlet by 1.8% in the 3rd quarter. Franklin Resources Inc. now owns 29,987 shares of the company’s stock worth $526,000 after buying an additional 529 shares during the last quarter. Amundi boosted its holdings in Grocery Outlet by 0.6% in the fourth quarter. Amundi now owns 116,139 shares of the company’s stock valued at $1,895,000 after acquiring an additional 719 shares in the last quarter. Cedar Wealth Management LLC increased its position in Grocery Outlet by 3.9% during the 4th quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company’s stock valued at $318,000 after purchasing an additional 765 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Grocery Outlet by 2.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock worth $732,000 after purchasing an additional 1,240 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of 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 purchasing an additional 1,736 shares during the period. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Stock Performance

Shares of Grocery Outlet stock opened at $14.21 on Friday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 9.08 and a beta of 0.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. Grocery Outlet Holding Corp. has a 1 year low of $10.26 and a 1 year high of $27.65. The firm’s 50-day moving average is $14.03 and its 200 day moving average is $16.03.

Insider Transactions at Grocery Outlet

In related news, CFO Christopher M. Miller purchased 10,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $11.68 per share, with a total value of $116,800.00. Following the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at $116,800. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven K. Wilson sold 6,477 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total transaction of $73,449.18. Following the transaction, the executive vice president now directly owns 173,605 shares of the company’s stock, valued at $1,968,680.70. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. Insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GO. Telsey Advisory Group decreased their price target on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley decreased their target price on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research report on Wednesday, February 26th. Bank of America decreased their price objective on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their target price on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.25.

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.