Bayesian Capital Management LP Buys New Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Bayesian Capital Management LP purchased a new position in Grocery Outlet Holding Corp. (NASDAQ:GO) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 48,576 shares of the company’s stock, valued at approximately $1,398,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Grocery Outlet during the 1st quarter worth $25,000. Daiwa Securities Group Inc. purchased a new stake in Grocery Outlet during the first quarter valued at about $127,000. Headlands Technologies LLC raised its position in Grocery Outlet by 32,200.0% during the fourth quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock valued at $131,000 after purchasing an additional 4,830 shares in the last quarter. Quest Partners LLC bought a new stake in Grocery Outlet during the fourth quarter worth about $193,000. Finally, Simplicity Wealth LLC purchased a new position in shares of Grocery Outlet in the 1st quarter worth about $217,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Insider Activity at Grocery Outlet

In related news, EVP Luke D. Thompson sold 1,332 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total transaction of $29,876.76. Following the transaction, the executive vice president now owns 32,306 shares in the company, valued at $724,623.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director John E. Bachman acquired 10,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was acquired at an average price of $20.09 per share, with a total value of $200,900.00. Following the completion of the transaction, the director now owns 25,872 shares of the company’s stock, valued at approximately $519,768.48. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Luke D. Thompson sold 1,332 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $22.43, for a total transaction of $29,876.76. Following the completion of the sale, the executive vice president now directly owns 32,306 shares in the company, valued at $724,623.58. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

Grocery Outlet Stock Down 5.0 %

NASDAQ GO opened at $20.01 on Wednesday. Grocery Outlet Holding Corp. has a 1 year low of $18.79 and a 1 year high of $36.54. The stock has a market capitalization of $2.00 billion, a PE ratio of 32.92, a PEG ratio of 3.85 and a beta of 0.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.25 and a quick ratio of 0.30. The business’s 50-day moving average is $21.32 and its 200 day moving average is $24.27.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). Grocery Outlet had a return on equity of 5.46% and a net margin of 1.60%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Sell-side analysts forecast that Grocery Outlet Holding Corp. will post 0.69 earnings per share for the current year.

Analysts Set New Price Targets

GO has been the subject of a number of recent research reports. TD Cowen dropped their target price on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Telsey Advisory Group restated an “outperform” rating and issued a $31.00 price objective on shares of Grocery Outlet in a report on Wednesday. UBS Group reduced their target price on shares of Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Craig Hallum downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a research note on Wednesday. Finally, Roth Mkm cut their price target on shares of Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.36.

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.