Principal Financial Group Inc. Sells 14,296 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Principal Financial Group Inc. reduced its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 4.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 336,248 shares of the company’s stock after selling 14,296 shares during the quarter. Principal Financial Group Inc.’s holdings in Grocery Outlet were worth $10,293,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Captrust Financial Advisors raised its stake in Grocery Outlet by 58.1% in the second quarter. Captrust Financial Advisors now owns 762 shares of the company’s stock worth $32,000 after buying an additional 280 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Grocery Outlet in the 1st quarter valued at approximately $55,000. State of Wyoming boosted its position in shares of Grocery Outlet by 78.7% during the fourth quarter. State of Wyoming now owns 2,012 shares of the company’s stock valued at $59,000 after purchasing an additional 886 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Grocery Outlet in the fourth quarter worth $72,000. Finally, Headlands Technologies LLC bought a new position in Grocery Outlet in the second quarter worth $96,000.

Insider Buying and Selling

In other news, Director Thomas F. Herman sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $27.69, for a total transaction of $55,380.00. Following the completion of the transaction, the director now directly owns 17,400 shares of the company’s stock, valued at $481,806. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 6,000 shares of company stock worth $175,000. 6.20% of the stock is owned by corporate insiders.

Grocery Outlet Stock Up 0.6 %

GO stock opened at $28.18 on Tuesday. The stock has a market capitalization of $2.80 billion, a P/E ratio of 34.79, a P/E/G ratio of 2.99 and a beta of 0.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.34 and a quick ratio of 0.54. Grocery Outlet Holding Corp. has a 1-year low of $25.71 and a 1-year high of $36.54. The business has a fifty day moving average price of $28.21 and a 200-day moving average price of $30.08.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GO shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Grocery Outlet from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $40.00 target price on shares of Grocery Outlet in a research note on Friday, September 15th. TheStreet downgraded Grocery Outlet from a “b-” rating to a “c+” rating in a research note on Wednesday, October 11th. The Goldman Sachs Group lowered their price objective on Grocery Outlet from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, October 10th. Finally, UBS Group increased their target price on Grocery Outlet from $29.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.38.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. engages in ownership and operation of a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.