Amalgamated Bank Reduces Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Amalgamated Bank decreased its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 30.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,763 shares of the company’s stock after selling 13,285 shares during the quarter. Amalgamated Bank’s holdings in Grocery Outlet were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital World Investors lifted its position in Grocery Outlet by 281.4% during the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after buying an additional 2,641,016 shares during the period. Millennium Management LLC lifted its position in Grocery Outlet by 677.6% during the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock valued at $43,832,000 after buying an additional 1,726,741 shares during the period. Solel Partners LP purchased a new position in Grocery Outlet during the second quarter valued at $35,980,000. American Century Companies Inc. lifted its position in Grocery Outlet by 889.9% during the second quarter. American Century Companies Inc. now owns 1,010,785 shares of the company’s stock valued at $22,359,000 after buying an additional 908,680 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Grocery Outlet by 1,891.8% during the second quarter. Victory Capital Management Inc. now owns 743,069 shares of the company’s stock valued at $16,437,000 after buying an additional 705,762 shares during the period. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Wall Street Analyst Weigh In

GO has been the subject of several recent analyst reports. Craig Hallum lowered their price target on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Bank of America lowered Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $29.00 to $17.00 in a research report on Wednesday, October 30th. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group reduced their price objective on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a report on Friday, November 1st. Finally, UBS Group reduced 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 investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.00.

Insider Buying and Selling

In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’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 value of $3,259,547.55. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 400,095 shares of company stock valued at $6,986,548. Corporate insiders own 4.50% of the company’s stock.

Grocery Outlet Trading Down 1.6 %

Shares of NASDAQ:GO opened at $17.82 on Friday. The stock has a 50 day moving average of $16.62 and a 200 day moving average of $19.31. The company has a market cap of $1.73 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 4.77 and a beta of 0.13. 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 12-month low of $13.60 and a 12-month high of $29.80.

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