Citadel Advisors LLC Acquires Shares of 792,438 Grocery Outlet Holding Corp. (NYSE:GO)

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Citadel Advisors LLC acquired a new stake in Grocery Outlet Holding Corp. (NYSE:GO) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 792,438 shares of the company’s stock, valued at approximately $26,055,000. Citadel Advisors LLC owned approximately 0.92% of Grocery Outlet at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. bought a new position in Grocery Outlet during the 2nd quarter valued at approximately $25,921,000. Janus Henderson Group PLC bought a new stake in Grocery Outlet during the second quarter valued at about $486,000. Wasatch Advisors Inc. bought a new stake in Grocery Outlet during the second quarter valued at about $21,111,000. BlueMountain Capital Management LLC bought a new stake in Grocery Outlet during the second quarter valued at about $2,302,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Grocery Outlet during the second quarter valued at about $730,000.

NYSE:GO traded up $0.66 on Friday, hitting $38.08. 928,199 shares of the stock were exchanged, compared to its average volume of 614,755. Grocery Outlet Holding Corp. has a 52 week low of $27.75 and a 52 week high of $47.57. The business has a 50-day moving average of $39.90.

Grocery Outlet (NYSE:GO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.07. The firm had revenue of $645.30 million for the quarter, compared to the consensus estimate of $626.60 million. Grocery Outlet’s quarterly revenue was up 12.2% on a year-over-year basis.

In other Grocery Outlet news, CFO Charles Bracher acquired 2,610 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was acquired at an average cost of $22.00 per share, for a total transaction of $57,420.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Steven K. Wilson acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was acquired at an average price of $22.00 per share, with a total value of $440,000.00. The disclosure for this purchase can be found here. Insiders have bought a total of 58,530 shares of company stock valued at $1,287,660 over the last 90 days.

A number of equities research analysts have commented on the company. Bank of America raised their price target on Grocery Outlet from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Morgan Stanley initiated coverage on shares of Grocery Outlet in a research note on Monday, July 15th. They issued an “equal weight” rating and a $30.00 price objective for the company. Cowen reissued an “outperform” rating and issued a $48.00 price objective (up previously from $42.00) on shares of Grocery Outlet in a research note on Wednesday, August 14th. Telsey Advisory Group initiated coverage on shares of Grocery Outlet in a research note on Monday, July 15th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Jefferies Financial Group boosted their price objective on shares of Grocery Outlet from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $40.00.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.

Further Reading: Mutual Funds

Want to see what other hedge funds are holding GO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grocery Outlet Holding Corp. (NYSE:GO).

Institutional Ownership by Quarter for Grocery Outlet (NYSE:GO)

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