Entropy Technologies LP Purchases New Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Entropy Technologies LP acquired a new position in Grocery Outlet Holding Corp. (NASDAQ:GO) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,700 shares of the company’s stock, valued at approximately $258,000.

Several other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in Grocery Outlet during the first quarter worth about $25,000. Blue Trust Inc. raised its holdings in shares of Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after buying an additional 722 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Grocery Outlet during the 3rd quarter worth approximately $32,000. Innealta Capital LLC acquired a new stake in Grocery Outlet in the 2nd quarter valued at $38,000. Finally, Canada Pension Plan Investment Board bought a new stake in Grocery Outlet in the second quarter valued at $82,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Insiders Place Their Bets

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’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 transaction, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 73.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 400,095 shares of company stock valued at $6,986,548. Company insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. TD Cowen cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $25.00 to $16.00 in a research report on Wednesday, November 6th. Melius Research began coverage on shares of Grocery Outlet in a report on Monday, September 23rd. They set a “hold” rating and a $17.00 price objective for the company. The Goldman Sachs Group reduced their target price on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a report on Friday, November 1st. Craig Hallum dropped their price target on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Finally, Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.00.

Grocery Outlet Price Performance

Grocery Outlet stock opened at $17.82 on Friday. The business’s 50-day simple moving average is $16.62 and its 200 day simple moving average is $19.31. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 34.94, a P/E/G ratio of 4.77 and a beta of 0.13. Grocery Outlet Holding Corp. has a 12-month low of $13.60 and a 12-month 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 (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS. As a group, research analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Grocery Outlet 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.