Sei Investments Co. Has $552,000 Stake in Grocery Outlet Holding Corp. $GO

Sei Investments Co. increased its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 573.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,260 shares of the company’s stock after purchasing an additional 66,641 shares during the quarter. Sei Investments Co. owned about 0.08% of Grocery Outlet worth $552,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Militia Capital Management LLC bought a new position in Grocery Outlet in the 1st quarter worth approximately $590,000. First Trust Advisors LP lifted its holdings in Grocery Outlet by 267.5% during the 1st quarter. First Trust Advisors LP now owns 311,812 shares of the company’s stock worth $2,198,000 after buying an additional 226,957 shares in the last quarter. Heartland Advisors Inc. boosted its position in Grocery Outlet by 8.4% in the 1st quarter. Heartland Advisors Inc. now owns 739,850 shares of the company’s stock valued at $5,216,000 after buying an additional 57,200 shares during the last quarter. Bastion Asset Management Inc. bought a new position in Grocery Outlet in the 1st quarter valued at $525,000. Finally, Illinois Municipal Retirement Fund increased its stake in shares of Grocery Outlet by 49.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 79,829 shares of the company’s stock valued at $563,000 after buying an additional 26,370 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

Analyst Upgrades and Downgrades

GO has been the topic of several research reports. Weiss Ratings lowered Grocery Outlet from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $9.00 price objective on shares of Grocery Outlet in a research report on Thursday. TD Cowen boosted their price objective on Grocery Outlet from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, May 14th. Wells Fargo & Company upped their target price on shares of Grocery Outlet from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, DA Davidson raised 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. Twelve equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Grocery Outlet has an average rating of “Reduce” and an average price target of $10.59.

Grocery Outlet Stock Performance

Shares of Grocery Outlet stock opened at $11.13 on Friday. The firm has a fifty day moving average of $9.69 and a two-hundred day moving average of $8.65. 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 stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -2.88, a PEG 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.

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

Insider Transactions at Grocery Outlet

In related news, insider Paul Blaine Miller bought 10,000 shares of Grocery Outlet stock in a transaction on Thursday, June 18th. The shares were purchased at an average price of $9.37 per share, for a total transaction of $93,700.00. Following the completion of the acquisition, the insider owned 59,171 shares in the company, valued at approximately $554,432.27. This represents a 20.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.60% of the company’s stock.

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.