Janus Henderson Group PLC Buys 40,055 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Janus Henderson Group PLC grew its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,936,436 shares of the company’s stock after buying an additional 40,055 shares during the period. Janus Henderson Group PLC’s holdings in Grocery Outlet were worth $55,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GO. Allspring Global Investments Holdings LLC purchased a new stake in shares of Grocery Outlet during the first quarter valued at $25,000. Daiwa Securities Group Inc. purchased a new stake in Grocery Outlet in the first quarter worth about $127,000. Headlands Technologies LLC lifted its stake in Grocery Outlet by 32,200.0% in the fourth quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock worth $131,000 after acquiring an additional 4,830 shares during the period. Quest Partners LLC purchased a new stake in Grocery Outlet in the fourth quarter worth about $193,000. Finally, Simplicity Wealth LLC purchased a new stake in Grocery Outlet in the first quarter worth about $217,000. Institutional investors own 99.87% of the company’s stock.

Insiders Place Their Bets

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

Grocery Outlet Stock Up 1.0 %

Shares of GO traded up $0.21 during mid-day trading on Tuesday, hitting $21.07. 1,533,864 shares of the company traded hands, compared to its average volume of 1,671,163. Grocery Outlet Holding Corp. has a 1-year low of $18.79 and a 1-year high of $36.54. The business has a 50 day moving average of $21.35 and a 200 day moving average of $24.31. The company has a quick ratio of 0.30, a current ratio of 1.25 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $2.10 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 3.84 and a beta of 0.09.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.10). Grocery Outlet had a return on equity of 5.46% and a net margin of 1.60%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Equities research analysts anticipate that Grocery Outlet Holding Corp. will post 0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Grocery Outlet in a research note on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price objective for the company. TD Cowen reduced their target price on shares of Grocery Outlet from $43.00 to $25.00 and set a “buy” rating for the company in a report on Friday, May 10th. UBS Group reduced their target price on shares of Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. The Goldman Sachs Group reduced their target price on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, May 9th. Finally, Telsey Advisory Group reduced their target price on shares of Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Grocery Outlet currently has an average rating of “Hold” and a consensus target price of $28.82.

Grocery Outlet Company Profile

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.