Patten Group Inc. Purchases 20,776 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Patten Group Inc. increased its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 83.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,562 shares of the company’s stock after acquiring an additional 20,776 shares during the period. Patten Group Inc.’s holdings in Grocery Outlet were worth $800,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Grocery Outlet in the 4th quarter valued at about $282,000. Vanguard Group Inc. raised its stake in Grocery Outlet by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 9,273,020 shares of the company’s stock valued at $250,001,000 after purchasing an additional 101,056 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Grocery Outlet by 19.3% during the first quarter. Los Angeles Capital Management LLC now owns 163,504 shares of the company’s stock valued at $4,706,000 after purchasing an additional 26,489 shares during the last quarter. Red Spruce Capital LLC purchased a new position in Grocery Outlet in the 1st quarter worth approximately $2,606,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Grocery Outlet in the 1st quarter worth $25,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Grocery Outlet Price Performance

GO opened at $15.72 on Friday. The stock has a market capitalization of $1.57 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 3.12 and a beta of 0.10. The stock’s 50 day moving average price is $17.63 and its 200-day moving average price is $21.26. Grocery Outlet Holding Corp. has a 52-week low of $15.18 and a 52-week high of $29.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. On average, equities research analysts predict that Grocery Outlet Holding Corp. will post 0.68 EPS for the current year.

Analyst Upgrades and Downgrades

GO has been the subject of several research reports. UBS Group cut their target price on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company assumed coverage on Grocery Outlet in a report on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price objective for the company. Telsey Advisory Group decreased their price objective on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Roth Mkm cut their target price on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.11.

Insiders Place Their Bets

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the sale, the director now owns 70,938 shares in the company, valued at $1,155,580.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the transaction, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 500,095 shares of company stock worth $8,876,548. 4.50% of the stock is currently owned by company insiders.

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.