Y Intercept Hong Kong Ltd Acquires Shares of 29,097 Grocery Outlet Holding Corp. (NASDAQ:GO)

Y Intercept Hong Kong Ltd acquired a new position in Grocery Outlet Holding Corp. (NASDAQ:GO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 29,097 shares of the company’s stock, valued at approximately $511,000.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its position in Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Grocery Outlet during the third quarter valued at approximately $32,000. Innealta Capital LLC bought a new stake in shares of Grocery Outlet in the 2nd quarter valued at approximately $38,000. True Wealth Design LLC purchased a new position in shares of Grocery Outlet in the 3rd quarter worth approximately $75,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Grocery Outlet during the 2nd quarter valued at approximately $82,000. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Stock Performance

Grocery Outlet stock opened at $19.11 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The company has a market capitalization of $1.86 billion, a PE ratio of 37.47, a P/E/G ratio of 4.74 and a beta of 0.25. The company has a 50 day moving average price of $17.80 and a 200-day moving average price of $18.85. Grocery Outlet Holding Corp. has a fifty-two week low of $13.60 and a fifty-two week high of $29.80.

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

Analysts Set New Price Targets

GO has been the subject of a number of analyst reports. Roth Mkm lowered their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Craig Hallum lowered their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. UBS Group cut their price target on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Bank of America lowered shares of Grocery Outlet from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $17.00 in a research report on Wednesday, October 30th. Finally, TD Cowen lowered Grocery Outlet from a “buy” rating to a “hold” rating and dropped their target price for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.00.

Insider Buying and Selling

In related news, Director Erik D. Ragatz bought 110,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were bought at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the purchase, the director now directly owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This represents 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 owned by 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.