Clearbridge Investments LLC Has $49.30 Million Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Clearbridge Investments LLC increased its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,158,059 shares of the company’s stock after acquiring an additional 272,285 shares during the quarter. Clearbridge Investments LLC owned about 3.25% of Grocery Outlet worth $49,297,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of GO. Point72 Asset Management L.P. grew its stake in Grocery Outlet by 159.8% during the third quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company’s stock worth $21,676,000 after buying an additional 759,697 shares in the last quarter. Boston Partners boosted its position in shares of Grocery Outlet by 48.5% during the 4th quarter. Boston Partners now owns 1,395,238 shares of the company’s stock worth $21,776,000 after acquiring an additional 455,893 shares in the last quarter. Jane Street Group LLC increased its stake in Grocery Outlet by 357.7% in the third quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock valued at $9,118,000 after acquiring an additional 406,039 shares during the last quarter. Barclays PLC raised its position in Grocery Outlet by 1,224.1% during the third quarter. Barclays PLC now owns 300,393 shares of the company’s stock valued at $5,271,000 after purchasing an additional 277,706 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Grocery Outlet by 112.6% during the fourth quarter. First Eagle Investment Management LLC now owns 474,000 shares of the company’s stock worth $7,399,000 after purchasing an additional 251,000 shares during the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Insiders Place Their Bets

In other Grocery Outlet news, SVP Lindsay E. Gray sold 2,741 shares of Grocery Outlet stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total value of $31,082.94. Following the completion of the sale, the senior vice president now directly owns 41,448 shares of the company’s stock, valued at approximately $470,020.32. The trade was a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christopher M. Miller acquired 10,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $11.68 per share, for a total transaction of $116,800.00. Following the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $116,800. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 200,000 shares of company stock worth $2,435,050 and sold 17,756 shares worth $216,892. Company insiders own 4.50% of the company’s stock.

Grocery Outlet Trading Up 5.5 %

NASDAQ:GO opened at $13.98 on Tuesday. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $28.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The firm’s fifty day moving average is $14.51 and its 200-day moving average is $16.21. The firm has a market cap of $1.36 billion, a P/E ratio of 27.41, a P/E/G ratio of 9.08 and a beta of 0.36.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GO. Telsey Advisory Group dropped their target price on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a report on Wednesday, February 26th. Bank of America cut their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a report on Wednesday, February 26th. The Goldman Sachs Group cut their price objective on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley lowered their target price on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.25.

Grocery Outlet 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.