Grocery Outlet Holding Corp. $GO Shares Sold by CenterBook Partners LP

CenterBook Partners LP trimmed its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 45.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 178,140 shares of the company’s stock after selling 149,538 shares during the quarter. CenterBook Partners LP’s holdings in Grocery Outlet were worth $2,859,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in GO. Marshall Wace LLP grew its holdings in shares of Grocery Outlet by 0.9% during the second quarter. Marshall Wace LLP now owns 4,556,552 shares of the company’s stock worth $56,592,000 after buying an additional 40,977 shares in the last quarter. Van Berkom & Associates Inc. boosted its position in Grocery Outlet by 16.9% during the third quarter. Van Berkom & Associates Inc. now owns 3,757,022 shares of the company’s stock worth $60,300,000 after acquiring an additional 543,535 shares during the last quarter. Geode Capital Management LLC grew its stake in Grocery Outlet by 41.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,390,051 shares of the company’s stock valued at $29,688,000 after acquiring an additional 702,807 shares in the last quarter. First Trust Advisors LP grew its stake in Grocery Outlet by 13.7% during the 2nd quarter. First Trust Advisors LP now owns 700,993 shares of the company’s stock valued at $8,706,000 after acquiring an additional 84,603 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Grocery Outlet by 375.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 669,130 shares of the company’s stock valued at $8,311,000 after acquiring an additional 528,322 shares during the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

Grocery Outlet Trading Up 2.8%

GO opened at $10.32 on Thursday. The stock has a market capitalization of $1.01 billion, a PE ratio of -206.40, a P/E/G ratio of 2.00 and a beta of 0.49. Grocery Outlet Holding Corp. has a one year low of $8.96 and a one year high of $19.41. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.25 and a current ratio of 1.30. The business’s 50 day moving average price is $9.92 and its 200 day moving average price is $13.27.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GO shares. Weiss Ratings restated a “sell (d)” rating on shares of Grocery Outlet in a report on Thursday, January 22nd. TD Cowen reduced their price objective on Grocery Outlet from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, November 5th. Bank of America lowered their price objective on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Wells Fargo & Company dropped their target price on Grocery Outlet from $19.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, December 19th. Finally, Telsey Advisory Group reduced their price target on Grocery Outlet from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.32.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.