Geode Capital Management LLC Reduces Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Geode Capital Management LLC reduced its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,583,666 shares of the company’s stock after selling 30,216 shares during the quarter. Geode Capital Management LLC’s holdings in Grocery Outlet were worth $24,730,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GO. Decker Retirement Planning Inc. acquired a new position in Grocery Outlet during the 4th quarter worth approximately $31,000. KBC Group NV raised its holdings in shares of Grocery Outlet by 62.7% in the fourth 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 last quarter. PNC Financial Services Group Inc. lifted its position in 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 acquiring an additional 4,040 shares during the period. Proficio Capital Partners LLC purchased a new position in Grocery Outlet in the 4th quarter valued at $161,000. Finally, Natixis Advisors LLC acquired a new position in shares of Grocery Outlet during the fourth quarter worth about $240,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GO has been the subject of several research analyst reports. The Goldman Sachs Group cut their price objective on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. Telsey Advisory Group cut their price target on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a report on Wednesday, February 26th. Bank of America lowered their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a research note 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. Finally, Morgan Stanley reduced their price target on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.46.

Grocery Outlet Trading Up 3.6 %

Shares of NASDAQ GO opened at $15.16 on Friday. 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 has a market capitalization of $1.49 billion, a P/E ratio of 29.73, a PEG ratio of 9.08 and a beta of 0.40. Grocery Outlet Holding Corp. has a 52-week low of $10.26 and a 52-week high of $27.64. The stock’s 50 day moving average price is $13.72 and its two-hundred day moving average price is $15.93.

Insider Buying and Selling at Grocery Outlet

In other news, CFO Christopher M. Miller acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired 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 approximately $116,800. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven K. Wilson sold 6,682 shares of the business’s 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 transaction, the executive vice president now directly owns 166,923 shares of the company’s stock, valued at $2,196,706.68. The trade was a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 200,000 shares of company stock worth $2,435,050 and sold 17,756 shares worth $216,892. 4.50% of the stock is owned by insiders.

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.