Bayesian Capital Management LP Makes New $1.40 Million Investment in Grocery Outlet Holding Corp. (NASDAQ:GO)

Bayesian Capital Management LP acquired a new stake in Grocery Outlet Holding Corp. (NASDAQ:GO) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 48,576 shares of the company’s stock, valued at approximately $1,398,000.

A number of other hedge funds have also made changes to their positions in GO. Allspring Global Investments Holdings LLC bought a new position in shares of Grocery Outlet during the 1st quarter valued at about $25,000. Daiwa Securities Group Inc. bought a new stake in Grocery Outlet during the first quarter worth approximately $127,000. Headlands Technologies LLC grew its position in Grocery Outlet by 32,200.0% in the fourth quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock worth $131,000 after buying an additional 4,830 shares during the last quarter. Quest Partners LLC bought a new position in shares of Grocery Outlet in the fourth quarter valued at $193,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of Grocery Outlet during the 1st quarter valued at $217,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Price Performance

NASDAQ GO opened at $20.01 on Wednesday. The stock has a market capitalization of $2.00 billion, a PE ratio of 32.92, a P/E/G ratio of 3.85 and a beta of 0.09. The stock has a 50-day simple moving average of $21.32 and a 200 day simple moving average of $24.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 1.25. Grocery Outlet Holding Corp. has a twelve month low of $18.79 and a twelve month high of $36.54.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.10). Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Research analysts anticipate that Grocery Outlet Holding Corp. will post 0.69 EPS for the current year.

Wall Street Analyst Weigh In

GO has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their target price on Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, May 9th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Grocery Outlet in a research note on Wednesday. Craig Hallum downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $20.00 target price on the stock. in a research note on Wednesday. UBS Group decreased their price target on shares of Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Finally, Wells Fargo & Company assumed coverage on Grocery Outlet in a research report on Thursday, July 18th. They issued an “overweight” rating and a $28.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.36.

Insider Activity

In related news, Director John E. Bachman acquired 10,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were bought at an average cost of $20.09 per share, for a total transaction of $200,900.00. Following the purchase, the director now owns 25,872 shares in the company, valued at approximately $519,768.48. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other Grocery Outlet news, Director John E. Bachman acquired 10,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was purchased at an average price of $20.09 per share, for a total transaction of $200,900.00. Following the transaction, the director now owns 25,872 shares in the company, valued at approximately $519,768.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Luke D. Thompson sold 1,332 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total value of $29,876.76. Following the completion of the sale, the executive vice president now owns 32,306 shares of the company’s stock, valued at $724,623.58. The disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.

About Grocery Outlet

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.