Schonfeld Strategic Advisors LLC Purchases 12,440 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Schonfeld Strategic Advisors LLC grew its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 76.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,741 shares of the company’s stock after acquiring an additional 12,440 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Grocery Outlet were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of GO. Barclays PLC boosted its position in shares of Grocery Outlet by 1,224.1% during the third quarter. Barclays PLC now owns 300,393 shares of the company’s stock valued at $5,271,000 after buying an additional 277,706 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Grocery Outlet by 2.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock valued at $732,000 after buying an additional 1,240 shares during the last quarter. Decker Retirement Planning Inc. purchased a new position in shares of Grocery Outlet during the fourth quarter valued at approximately $31,000. Red Spruce Capital LLC boosted its position in shares of Grocery Outlet by 10.2% during the fourth quarter. Red Spruce Capital LLC now owns 130,924 shares of the company’s stock valued at $2,044,000 after buying an additional 12,124 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Grocery Outlet during the fourth quarter valued at approximately $658,000. Institutional investors own 99.87% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $16.00 target price on shares of Grocery Outlet in a research report on Wednesday, April 30th. Jefferies Financial Group raised Grocery Outlet from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $13.00 to $18.00 in a research report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft cut Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research report on Wednesday, February 26th. Morgan Stanley cut their price objective 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. Finally, Bank of America cut their price objective on Grocery Outlet from $20.00 to $17.00 and set a “neutral” 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 given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.62.

Grocery Outlet Stock Performance

Shares of GO opened at $14.40 on Monday. The stock’s 50-day simple moving average is $14.11 and its 200 day simple moving average is $15.86. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 9.08 and a beta of 0.42. 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 $23.25.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. Research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Lindsay E. Gray sold 2,741 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total transaction of $31,082.94. Following the sale, the senior vice president now owns 41,448 shares of the company’s stock, valued at approximately $470,020.32. This represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Steven K. Wilson sold 6,682 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $13.16, for a total value of $87,935.12. Following the completion of the transaction, the executive vice president now owns 166,923 shares in the company, valued at $2,196,706.68. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 200,000 shares of company stock valued at $2,435,050 and have sold 17,756 shares valued at $216,892. 4.50% of the stock is currently 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.