Rip Road Capital Partners LP Buys 115,600 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Rip Road Capital Partners LP increased its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 28.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 528,600 shares of the company’s stock after purchasing an additional 115,600 shares during the period. Grocery Outlet accounts for 7.0% of Rip Road Capital Partners LP’s portfolio, making the stock its 6th largest holding. Rip Road Capital Partners LP owned about 0.54% of Grocery Outlet worth $8,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Decker Retirement Planning Inc. bought a new stake in shares of Grocery Outlet during the 4th quarter valued at $31,000. Aster Capital Management DIFC Ltd bought a new stake in Grocery Outlet in the fourth quarter valued at approximately $41,000. Quadrant Capital Group LLC boosted its position in shares of Grocery Outlet by 276.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock worth $43,000 after purchasing an additional 2,036 shares in the last quarter. KBC Group NV increased its position in shares of Grocery Outlet by 62.7% in the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock valued at $70,000 after buying an additional 1,736 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Grocery Outlet by 472.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the company’s stock worth $76,000 after purchasing an additional 4,040 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

Insider Buying and Selling at Grocery Outlet

In other news, Director Erik D. Ragatz bought 165,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $12.25 per share, with a total value of $2,021,250.00. Following the completion of the purchase, the director now directly owns 201,500 shares of the company’s stock, valued at approximately $2,468,375. This represents a 452.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Christopher M. Miller purchased 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $11.68 per share, for a total transaction of $116,800.00. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $116,800. The trade was a ? increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 219,000 shares of company stock worth $2,709,790 and sold 17,756 shares worth $216,892. Corporate insiders own 4.50% of the company’s stock.

Grocery Outlet Price Performance

Shares of NASDAQ:GO opened at $13.48 on Thursday. Grocery Outlet Holding Corp. has a one year low of $10.26 and a one year high of $23.25. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 9.08 and a beta of 0.42. The firm has a 50 day simple moving average of $14.21 and a 200 day simple moving average of $15.81.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Research analysts predict that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on GO. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research note on Wednesday, February 26th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $16.00 price objective on shares of Grocery Outlet in a research report on Wednesday, April 30th. Wells Fargo & Company boosted their price target on Grocery Outlet from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Bank of America lowered their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group lowered their price objective on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Grocery Outlet currently has a consensus rating of “Hold” and a consensus price target of $15.62.

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.