Grocery Outlet Holding Corp. (NASDAQ:GO) Stake Cut by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP lessened its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 51.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,212 shares of the company’s stock after selling 196,422 shares during the quarter. Advantage Alpha Capital Partners LP owned approximately 0.19% of Grocery Outlet worth $3,215,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. grew its position in Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Grocery Outlet during the 2nd quarter valued at $38,000. Capital Performance Advisors LLP purchased a new position in shares of Grocery Outlet during the 3rd quarter valued at $32,000. Arizona State Retirement System increased its stake in shares of Grocery Outlet by 7.2% in the second quarter. Arizona State Retirement System now owns 27,779 shares of the company’s stock worth $614,000 after acquiring an additional 1,862 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Grocery Outlet by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 53,616 shares of the company’s stock worth $1,544,000 after acquiring an additional 2,968 shares in the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Insider Activity at Grocery Outlet

In related news, Director Erik D. Ragatz acquired 110,000 shares of the stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the purchase, the director now owns 539,785 shares in the company, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The trade was a 73.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GO has been the topic of several research reports. UBS Group dropped their target price on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Craig Hallum dropped their price objective on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Melius Research assumed coverage on shares of Grocery Outlet in a research note on Monday, September 23rd. They issued a “hold” rating and a $17.00 target price for the company. TD Cowen lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $16.00 in a research note on Wednesday, November 6th. Finally, Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.00.

Grocery Outlet Price Performance

NASDAQ:GO opened at $20.88 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. Grocery Outlet Holding Corp. has a one year low of $13.60 and a one year high of $29.80. The company has a fifty day moving average price of $16.90 and a 200 day moving average price of $19.05. The stock has a market cap of $2.03 billion, a P/E ratio of 40.94, a PEG ratio of 4.92 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

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.