Angeles Investment Advisors LLC Buys 3,355 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Angeles Investment Advisors LLC grew its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 18.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,535 shares of the company’s stock after buying an additional 3,355 shares during the period. Angeles Investment Advisors LLC’s holdings in Grocery Outlet were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Grocery Outlet in the 1st quarter valued at $25,000. Texas Permanent School Fund Corp grew its stake in Grocery Outlet by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 86,879 shares of the company’s stock valued at $2,500,000 after acquiring an additional 1,126 shares during the period. Swiss National Bank increased its holdings in shares of Grocery Outlet by 0.6% in the first quarter. Swiss National Bank now owns 186,100 shares of the company’s stock worth $5,356,000 after acquiring an additional 1,200 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Grocery Outlet by 15.2% during the first quarter. Russell Investments Group Ltd. now owns 186,511 shares of the company’s stock worth $5,368,000 after purchasing an additional 24,543 shares during the period. Finally, Bleakley Financial Group LLC bought a new position in shares of Grocery Outlet during the 1st quarter valued at about $217,000. 99.87% of the stock is owned by institutional investors.

Grocery Outlet Stock Performance

Shares of NASDAQ:GO traded up $0.04 during trading on Wednesday, reaching $19.11. 70,934 shares of the stock were exchanged, compared to its average volume of 1,838,284. The firm has a market cap of $1.86 billion, a PE ratio of 37.39, a PEG ratio of 4.68 and a beta of 0.13. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. Grocery Outlet Holding Corp. has a 12 month low of $13.60 and a 12 month high of $29.98. The stock has a 50-day moving average price of $16.57 and a 200-day moving average price of $19.42.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. Research analysts expect that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the sale, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at $1,155,580.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,340,728.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 500,095 shares of company stock valued at $8,876,548 in the last three months. Corporate insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

GO has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price objective on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Roth Mkm cut their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Bank of America lowered Grocery Outlet from a “buy” rating to a “neutral” rating and dropped their target price for the company from $29.00 to $17.00 in a research report on Wednesday, October 30th. Loop Capital assumed coverage on Grocery Outlet in a research report on Thursday, October 17th. They set a “hold” rating and a $17.00 price target for the company. Finally, UBS Group lowered their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $18.00.

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.