State of New Jersey Common Pension Fund D Grows Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

State of New Jersey Common Pension Fund D grew its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 10.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,710 shares of the company’s stock after purchasing an additional 8,353 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.09% of Grocery Outlet worth $2,392,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GO. CWM LLC grew its position in shares of Grocery Outlet by 248.0% in the third quarter. CWM LLC now owns 1,399 shares of the company’s stock valued at $40,000 after purchasing an additional 997 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Grocery Outlet during the 3rd quarter valued at about $113,000. Corton Capital Inc. bought a new stake in shares of Grocery Outlet during the third quarter valued at about $216,000. Numerai GP LLC purchased a new stake in shares of Grocery Outlet in the third quarter worth about $236,000. Finally, Securian Asset Management Inc. boosted its position in shares of Grocery Outlet by 5.4% in the third quarter. Securian Asset Management Inc. now owns 8,366 shares of the company’s stock valued at $241,000 after acquiring an additional 432 shares during the period. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Insider Transactions at Grocery Outlet

In related news, insider Andrea Renee Bortner sold 4,112 shares of Grocery Outlet stock in a transaction on Monday, March 4th. The shares were sold at an average price of $26.33, for a total value of $108,268.96. Following the transaction, the insider now directly owns 49,308 shares of the company’s stock, valued at $1,298,279.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Andrea Renee Bortner sold 4,112 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $26.33, for a total transaction of $108,268.96. Following the transaction, the insider now directly owns 49,308 shares of the company’s stock, valued at $1,298,279.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total value of $58,000.00. Following the completion of the sale, the director now directly owns 11,400 shares of the company’s stock, valued at approximately $330,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 506,588 shares of company stock worth $13,367,577. Company insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Wednesday, February 28th. UBS Group lowered their price target on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, Telsey Advisory Group cut their price objective on Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.44.

Grocery Outlet Stock Performance

NASDAQ:GO opened at $25.56 on Thursday. Grocery Outlet Holding Corp. has a 1-year low of $23.41 and a 1-year high of $36.54. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 0.43. The business has a 50 day moving average of $26.96 and a 200 day moving average of $27.13. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 2.48 and a beta of 0.10.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $989.82 million during the quarter, compared to analysts’ expectations of $982.44 million. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. On average, sell-side analysts predict that Grocery Outlet Holding Corp. will post 0.95 earnings per share for the current fiscal year.

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.