Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Acquired by BlackRock Inc.

BlackRock Inc. raised its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,419,378 shares of the company’s stock after purchasing an additional 362,726 shares during the quarter. BlackRock Inc. owned about 7.76% of Grocery Outlet worth $273,701,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Sands Capital Management LLC boosted its holdings in shares of Grocery Outlet by 8.2% in the 4th quarter. Sands Capital Management LLC now owns 8,875,266 shares of the company’s stock valued at $348,354,000 after acquiring an additional 675,706 shares during the last quarter. Jackson Square Partners LLC boosted its holdings in shares of Grocery Outlet by 18.1% in the 4th quarter. Jackson Square Partners LLC now owns 8,794,232 shares of the company’s stock valued at $345,173,000 after acquiring an additional 1,347,685 shares during the last quarter. Parnassus Investments CA boosted its holdings in shares of Grocery Outlet by 61.8% in the 1st quarter. Parnassus Investments CA now owns 5,204,848 shares of the company’s stock valued at $192,007,000 after acquiring an additional 1,987,921 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Grocery Outlet by 4.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,059,163 shares of the company’s stock valued at $80,822,000 after acquiring an additional 86,590 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Grocery Outlet by 1.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,976,149 shares of the company’s stock valued at $77,564,000 after acquiring an additional 34,969 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

In related news, insider Brian Mcandrews sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $36.22, for a total transaction of $144,880.00. Following the completion of the sale, the insider now directly owns 19,733 shares in the company, valued at $714,729.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Eric J. Jr. Lindberg sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 19th. The stock was sold at an average price of $34.27, for a total transaction of $856,750.00. Following the sale, the chief executive officer now owns 72,960 shares of the company’s stock, valued at $2,500,339.20. The disclosure for this sale can be found here. Insiders sold 250,430 shares of company stock valued at $9,606,250 over the last quarter. Company insiders own 11.80% of the company’s stock.

Several analysts have recently commented on the stock. Morgan Stanley dropped their price objective on shares of Grocery Outlet from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 12th. Zacks Investment Research downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $37.00 price target on the stock. in a report on Thursday, March 4th. Craig Hallum reissued a “hold” rating and set a $42.00 price target (down from $50.00) on shares of Grocery Outlet in a report on Tuesday, May 18th. Jefferies Financial Group downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price target for the stock from $45.00 to $32.00 in a report on Friday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $37.00 price target on shares of Grocery Outlet in a report on Tuesday, May 18th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Grocery Outlet has an average rating of “Buy” and a consensus target price of $43.08.

Shares of NASDAQ GO opened at $33.96 on Friday. The firm has a 50-day simple moving average of $37.05. The firm has a market capitalization of $3.25 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 5.14 and a beta of -0.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 0.62. Grocery Outlet Holding Corp. has a 52 week low of $32.07 and a 52 week high of $48.87.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Monday, May 10th. The company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. The business had revenue of $752.50 million during the quarter, compared to analysts’ expectations of $757.15 million. Grocery Outlet had a net margin of 3.61% and a return on equity of 15.49%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. Equities research analysts expect that Grocery Outlet Holding Corp. will post 0.92 earnings per share for the current fiscal year.

About Grocery Outlet

Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.

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

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