Quest Partners LLC Acquires New Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Quest Partners LLC bought a new position in Grocery Outlet Holding Corp. (NASDAQ:GO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,172 shares of the company’s stock, valued at approximately $266,000.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Grocery Outlet by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock worth $268,628,000 after acquiring an additional 60,830 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Grocery Outlet by 4.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 77,079 shares of the company’s stock valued at $2,219,000 after purchasing an additional 3,109 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Grocery Outlet in the first quarter valued at approximately $1,099,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Grocery Outlet by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,616 shares of the company’s stock worth $1,544,000 after buying an additional 2,968 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Grocery Outlet by 2.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,936,436 shares of the company’s stock worth $55,731,000 after buying an additional 40,055 shares during the period. 99.87% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Grocery Outlet Trading Up 1.3 %

Shares of GO opened at $21.16 on Wednesday. The stock has a fifty day moving average price of $16.99 and a two-hundred day moving average price of $19.05. 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 cap of $2.06 billion, a price-to-earnings ratio of 41.49, a PEG ratio of 4.92 and a beta of 0.13. Grocery Outlet Holding Corp. has a 52-week low of $13.60 and a 52-week high of $29.80.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping 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 company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. Analysts predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GO has been the subject of several recent analyst reports. Roth Mkm decreased their target price 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. Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Telsey Advisory Group dropped their target price on shares of Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 6th. Loop Capital assumed coverage on shares of Grocery Outlet in a research report on Thursday, October 17th. They issued a “hold” rating and a $17.00 price target on the stock. Finally, The Goldman Sachs Group cut their price objective on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.