Illinois Municipal Retirement Fund Sells 10,780 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Illinois Municipal Retirement Fund lessened its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 18.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,399 shares of the company’s stock after selling 10,780 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Grocery Outlet were worth $663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GO. Amundi boosted its stake in shares of Grocery Outlet by 0.6% during the 4th quarter. Amundi now owns 116,139 shares of the company’s stock valued at $1,895,000 after purchasing an additional 719 shares in the last quarter. Cedar Wealth Management LLC raised its holdings in Grocery Outlet by 3.9% in the fourth quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company’s stock worth $318,000 after purchasing an additional 765 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in Grocery Outlet by 9.6% during the fourth quarter. Integrated Wealth Concepts LLC now owns 15,671 shares of the company’s stock valued at $245,000 after buying an additional 1,377 shares during the period. Guggenheim Capital LLC boosted its holdings in shares of Grocery Outlet by 9.1% during the 4th quarter. Guggenheim Capital LLC now owns 16,955 shares of the company’s stock valued at $265,000 after buying an additional 1,408 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in shares of Grocery Outlet by 53.9% in the 4th quarter. Sterling Capital Management LLC now owns 5,808 shares of the company’s stock worth $91,000 after buying an additional 2,034 shares during the period. Institutional investors own 99.87% of the company’s stock.

Insider Transactions at Grocery Outlet

In other news, Director Erik D. Ragatz purchased 19,000 shares of the business’s stock in a transaction on Friday, May 9th. The shares were acquired at an average cost of $14.46 per share, with a total value of $274,740.00. Following the completion of the acquisition, the director owned 19,000 shares of the company’s stock, valued at $274,740. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.50% of the stock is owned by company insiders.

Grocery Outlet Stock Performance

Shares of NASDAQ:GO opened at $13.07 on Thursday. The firm’s 50 day simple moving average is $14.07 and its 200-day simple moving average is $14.63. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 1.25. Grocery Outlet Holding Corp. has a one year low of $10.26 and a one year high of $22.22. The firm has a market cap of $1.28 billion, a PE ratio of 81.69, a price-to-earnings-growth ratio of 4.15 and a beta of 0.29.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Grocery Outlet had a return on equity of 6.21% and a net margin of 0.39%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. As a group, equities analysts predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Analysts Set New Price Targets

GO has been the subject of several recent analyst reports. Jefferies Financial Group raised Grocery Outlet from a “hold” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $18.00 in a research report on Wednesday, April 16th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $16.00 target price on shares of Grocery Outlet in a report on Wednesday, April 30th. UBS Group raised their price objective on Grocery Outlet from $14.50 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company lifted their target price on shares of Grocery Outlet from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Two research 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 stock. According to MarketBeat.com, Grocery Outlet presently has an average rating of “Hold” and a consensus price target of $15.62.

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.