Principal Financial Group Inc. Sells 14,296 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Principal Financial Group Inc. decreased its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 336,248 shares of the company’s stock after selling 14,296 shares during the quarter. Principal Financial Group Inc. owned 0.34% of Grocery Outlet worth $10,293,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Grocery Outlet by 7.7% in the first quarter. BlackRock Inc. now owns 8,852,693 shares of the company’s stock worth $290,192,000 after purchasing an additional 631,964 shares during the period. Vanguard Group Inc. increased its stake in Grocery Outlet by 1.2% in the first quarter. Vanguard Group Inc. now owns 8,490,964 shares of the company’s stock valued at $278,334,000 after acquiring an additional 96,832 shares during the last quarter. Capital Research Global Investors raised its position in Grocery Outlet by 6.7% during the first quarter. Capital Research Global Investors now owns 7,339,446 shares of the company’s stock valued at $240,587,000 after purchasing an additional 463,415 shares in the last quarter. Jackson Square Partners LLC lifted its stake in Grocery Outlet by 15.4% during the first quarter. Jackson Square Partners LLC now owns 6,103,398 shares of the company’s stock worth $172,482,000 after purchasing an additional 814,636 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Grocery Outlet by 12.8% in the 4th quarter. Alliancebernstein L.P. now owns 5,445,064 shares of the company’s stock valued at $158,941,000 after purchasing an additional 616,589 shares during the last quarter.

Insider Buying and Selling at Grocery Outlet

In related news, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $29.74, for a total transaction of $59,480.00. Following the completion of the transaction, the director now owns 15,400 shares of the company’s stock, valued at $457,996. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 6,000 shares of company stock valued at $175,000. 6.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GO shares. The Goldman Sachs Group dropped their price objective on Grocery Outlet from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, October 10th. TheStreet lowered shares of Grocery Outlet from a “b-” rating to a “c+” rating in a report on Wednesday, October 11th. UBS Group increased their price objective on shares of Grocery Outlet from $29.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. Credit Suisse Group boosted their target price on shares of Grocery Outlet from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $40.00 price target on shares of Grocery Outlet in a research note on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $33.38.

Grocery Outlet Trading Up 0.6 %

Shares of GO stock opened at $28.18 on Tuesday. Grocery Outlet Holding Corp. has a 1-year low of $25.71 and a 1-year high of $36.54. The company has a current ratio of 1.34, a quick ratio of 0.54 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 2.99 and a beta of 0.08. The stock has a 50-day moving average of $28.21 and a 200-day moving average of $30.08.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. engages in ownership and operation of 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.