Ontario Teachers Pension Plan Board Sells 49,846 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Ontario Teachers Pension Plan Board lessened its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 82.9% during the first quarter, HoldingsChannel.com reports. The fund owned 10,272 shares of the company’s stock after selling 49,846 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Grocery Outlet were worth $296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Grocery Outlet during the first quarter worth about $25,000. Daiwa Securities Group Inc. bought a new stake in shares of Grocery Outlet during the first quarter worth about $127,000. Headlands Technologies LLC grew its holdings in shares of Grocery Outlet by 32,200.0% during the fourth quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock worth $131,000 after purchasing an additional 4,830 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Grocery Outlet during the fourth quarter worth about $193,000. Finally, Simplicity Wealth LLC bought a new stake in shares of Grocery Outlet during the first quarter worth about $217,000. Institutional investors own 99.87% of the company’s stock.

Insider Activity

In other news, Director Erik D. Ragatz acquired 100,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was purchased at an average price of $20.91 per share, for a total transaction of $2,091,000.00. Following the completion of the acquisition, the director now directly owns 429,785 shares in the company, valued at approximately $8,986,804.35. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Erik D. Ragatz purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was acquired at an average price of $20.91 per share, for a total transaction of $2,091,000.00. Following the completion of the acquisition, the director now owns 429,785 shares of the company’s stock, valued at approximately $8,986,804.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John E. Bachman purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average price of $20.09 per share, with a total value of $200,900.00. Following the acquisition, the director now directly owns 25,872 shares of the company’s stock, valued at approximately $519,768.48. The disclosure for this purchase can be found here. Corporate insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

GO has been the topic of several research reports. Roth Mkm reduced their price target on Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. UBS Group cut their price objective on Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. TD Cowen cut their price objective on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Telsey Advisory Group cut their price objective on Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company assumed coverage on Grocery Outlet in a research note on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $28.82.

Grocery Outlet Stock Down 0.7 %

Shares of NASDAQ GO traded down $0.14 during midday trading on Tuesday, hitting $20.22. 58,302 shares of the stock traded hands, compared to its average volume of 1,624,302. The company has a market cap of $2.02 billion, a PE ratio of 31.81, a P/E/G ratio of 3.98 and a beta of 0.09. Grocery Outlet Holding Corp. has a one year low of $19.73 and a one year high of $36.54. The business has a 50 day moving average price of $21.51 and a two-hundred day moving average price of $24.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 1.25.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.10). The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. On average, equities analysts predict that Grocery Outlet Holding Corp. will post 0.69 EPS for the current year.

About Grocery Outlet

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.