LPL Financial LLC Has $189,000 Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

LPL Financial LLC lessened its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,121 shares of the company’s stock after selling 644 shares during the period. LPL Financial LLC’s holdings in Grocery Outlet were worth $189,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Decker Retirement Planning Inc. acquired a new position in Grocery Outlet during the 4th quarter worth approximately $31,000. KBC Group NV boosted its holdings in Grocery Outlet by 62.7% during the fourth 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 last quarter. PNC Financial Services Group Inc. boosted its holdings in Grocery Outlet by 472.0% during the fourth 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 last quarter. Proficio Capital Partners LLC bought a new position in Grocery Outlet in the fourth quarter valued at $161,000. Finally, Natixis Advisors LLC acquired a new stake in Grocery Outlet in the 4th quarter valued at $240,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Grocery Outlet

In related news, CFO Christopher M. Miller acquired 10,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $116,800. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven K. Wilson sold 6,477 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total value of $73,449.18. Following the sale, the executive vice president now owns 173,605 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders bought 200,000 shares of company stock worth $2,435,050 and sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by corporate insiders.

Grocery Outlet Stock Up 4.3 %

Shares of GO opened at $16.72 on Wednesday. The firm has a market cap of $1.64 billion, a P/E ratio of 32.78, a price-to-earnings-growth ratio of 9.08 and a beta of 0.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $26.35. The firm’s 50-day simple moving average is $13.65 and its 200 day simple moving average is $15.92.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GO. Deutsche Bank Aktiengesellschaft cut Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a report on Wednesday, February 26th. Wells Fargo & Company decreased their price target on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. The Goldman Sachs Group dropped their price objective on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a research note on Thursday, February 27th. Telsey Advisory Group cut their price objective 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. Finally, Bank of America lowered their target price 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.46.

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.