Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA reduced its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 670,101 shares of the company’s stock after selling 8,604 shares during the period. Glenmede Trust Co. NA owned 0.69% of Grocery Outlet worth $11,760,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. raised its position in Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Grocery Outlet in the 2nd quarter worth approximately $38,000. Capital Performance Advisors LLP acquired a new stake in Grocery Outlet during the third quarter valued at approximately $32,000. Canada Pension Plan Investment Board acquired a new position in Grocery Outlet in the second quarter worth approximately $82,000. Finally, CIBC Asset Management Inc bought a new position in shares of Grocery Outlet in the second quarter valued at $217,000. 99.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GO. Roth Mkm reduced their price objective 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. Melius Research assumed coverage on Grocery Outlet in a research note on Monday, September 23rd. They issued a “hold” rating and a $17.00 price target on the stock. The Goldman Sachs Group cut their price objective on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a report on Friday, November 1st. Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Grocery Outlet has an average rating of “Hold” and an average price target of $18.00.

Grocery Outlet Stock Down 1.2 %

GO stock opened at $21.00 on Friday. The company has a 50 day moving average of $17.29 and a two-hundred day moving average of $19.09. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 41.18, a PEG ratio of 5.35 and a beta of 0.13. Grocery Outlet Holding Corp. has a 12-month low of $13.60 and a 12-month high of $29.80. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

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, topping the consensus estimate of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company earned $0.25 earnings per share. Grocery Outlet’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Insider Activity at Grocery Outlet

In related news, Director Erik D. Ragatz purchased 110,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the purchase, the director now owns 539,785 shares in the company, valued at $9,851,076.25. The trade was a 25.59 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction dated Thursday, September 19th. The shares were 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 in the company, valued at approximately $1,155,580.02. This represents a 73.83 % decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

Grocery Outlet Company 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.