Victory Capital Management Inc. Buys 172,050 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Victory Capital Management Inc. grew its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 23.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 915,119 shares of the company’s stock after buying an additional 172,050 shares during the period. Victory Capital Management Inc. owned 0.93% of Grocery Outlet worth $16,060,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GO. 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 worth $29,000 after buying an additional 722 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Grocery Outlet during the 1st quarter valued at about $25,000. Innealta Capital LLC bought a new stake in shares of Grocery Outlet during the 2nd quarter valued at about $38,000. Capital Performance Advisors LLP purchased a new position in shares of Grocery Outlet during the third quarter worth about $32,000. Finally, Arizona State Retirement System increased its position 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 purchasing an additional 1,862 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Trading Up 4.3 %

NASDAQ GO opened at $18.63 on Wednesday. The stock has a 50-day moving average of $16.68 and a 200-day moving average of $19.16. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. Grocery Outlet Holding Corp. has a 1-year low of $13.60 and a 1-year high of $29.80. The firm has a market cap of $1.81 billion, a PE ratio of 36.53, a price-to-earnings-growth ratio of 4.45 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 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Insider Buying and Selling at Grocery Outlet

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GO shares. Melius Research initiated coverage on shares of Grocery Outlet in a research note on Monday, September 23rd. They issued a “hold” rating and a $17.00 price target for the company. The Goldman Sachs Group dropped their price objective on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a report on Friday, November 1st. Loop Capital assumed coverage on Grocery Outlet in a research note on Thursday, October 17th. They issued a “hold” rating and a $17.00 target price on the stock. Roth Mkm dropped their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, UBS Group cut their price objective on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.00.

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.