Grocery Outlet Holding Corp. $GO Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System boosted its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 74.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,688 shares of the company’s stock after buying an additional 67,379 shares during the quarter. California State Teachers Retirement System’s holdings in Grocery Outlet were worth $1,112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GO. T. Rowe Price Investment Management Inc. lifted its holdings in Grocery Outlet by 54.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 15,763,945 shares of the company’s stock worth $159,216,000 after buying an additional 5,528,722 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Grocery Outlet by 3,558.0% in the 3rd quarter. Millennium Management LLC now owns 1,825,407 shares of the company’s stock valued at $29,298,000 after buying an additional 1,775,505 shares during the period. UBS Group AG boosted its holdings in shares of Grocery Outlet by 87.6% in the 4th quarter. UBS Group AG now owns 2,726,299 shares of the company’s stock valued at $27,536,000 after buying an additional 1,272,859 shares during the period. Boston Partners raised its position in shares of Grocery Outlet by 219.7% during the 3rd quarter. Boston Partners now owns 1,462,633 shares of the company’s stock worth $23,475,000 after purchasing an additional 1,005,126 shares during the period. Finally, Invesco Ltd. increased its position in Grocery Outlet by 106.5% in the fourth quarter. Invesco Ltd. now owns 1,914,410 shares of the company’s stock worth $19,336,000 after buying an additional 987,367 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

Insiders Place Their Bets

In other Grocery Outlet news, insider Paul Blaine Miller bought 5,000 shares of the stock in a transaction on Thursday, June 25th. The shares were purchased at an average price of $9.50 per share, with a total value of $47,500.00. Following the acquisition, the insider directly owned 64,171 shares of the company’s stock, valued at $609,624.50. This represents a 8.45% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.60% of the stock is currently owned by insiders.

Grocery Outlet Stock Performance

Shares of NASDAQ GO opened at $11.13 on Friday. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -2.88, a P/E/G ratio of 16.84 and a beta of 0.65. Grocery Outlet Holding Corp. has a 52 week low of $5.66 and a 52 week high of $19.23. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.27 and a current ratio of 1.29. The business’s 50-day simple moving average is $9.69 and its 200-day simple moving average is $8.65.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.07. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. Grocery Outlet had a positive return on equity of 5.84% and a negative net margin of 8.04%.The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. As a group, equities research analysts expect that Grocery Outlet Holding Corp. will post 0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GO shares. DA Davidson boosted their target price on shares of Grocery Outlet from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $9.00 price target on shares of Grocery Outlet in a research report on Thursday. TD Cowen raised their price objective on shares of Grocery Outlet from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. Telsey Advisory Group restated a “market perform” rating on shares of Grocery Outlet in a report on Thursday. Finally, Wells Fargo & Company boosted their target price on Grocery Outlet from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday. Twelve analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $10.59.

Grocery Outlet 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.