Quest Partners LLC Makes New $193,000 Investment in Grocery Outlet Holding Corp. (NASDAQ:GO)

Quest Partners LLC purchased a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GOFree Report) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 7,157 shares of the company’s stock, valued at approximately $193,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GO. Acadian Asset Management LLC bought a new position in Grocery Outlet in the 3rd quarter worth about $113,000. 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 in the last quarter. Corton Capital Inc. bought a new position in shares of Grocery Outlet in the third quarter worth approximately $216,000. Numerai GP LLC purchased a new stake in Grocery Outlet in the third quarter valued at approximately $236,000. Finally, MQS Management LLC purchased a new stake in Grocery Outlet in the third quarter valued at approximately $280,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GO has been the topic of a number of research analyst reports. Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Wednesday, February 28th. The Goldman Sachs Group reduced their target price on Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, May 9th. Telsey Advisory Group lowered their price target on Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. UBS Group cut their price objective on Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Finally, TD Cowen decreased their price objective on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Grocery Outlet has a consensus rating of “Hold” and a consensus target price of $28.90.

View Our Latest Stock Report on Grocery Outlet

Grocery Outlet Price Performance

GO opened at $22.62 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.25 and a quick ratio of 0.30. The stock’s 50 day simple moving average is $25.60 and its 200 day simple moving average is $26.48. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 3.99 and a beta of 0.13. Grocery Outlet Holding Corp. has a 1 year low of $19.73 and a 1 year high of $36.54.

Grocery Outlet (NASDAQ:GOGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). Grocery Outlet had a return on equity of 5.46% and a net margin of 1.60%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, analysts predict that Grocery Outlet Holding Corp. will post 0.72 earnings per share for the current year.

Insider Activity at Grocery Outlet

In related news, Director John E. Bachman bought 10,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average cost of $20.09 per share, with a total value of $200,900.00. Following the transaction, the director now owns 25,872 shares in the company, valued at approximately $519,768.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Grocery Outlet news, EVP Luke D. Thompson sold 1,332 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $22.43, for a total transaction of $29,876.76. Following the completion of the transaction, the executive vice president now owns 32,306 shares of the company’s stock, valued at $724,623.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John E. Bachman bought 10,000 shares of Grocery Outlet stock in a transaction dated Tuesday, May 14th. The stock was acquired at an average cost of $20.09 per share, for a total transaction of $200,900.00. Following the completion of the transaction, the director now directly owns 25,872 shares in the company, valued at $519,768.48. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 146,500 shares of company stock worth $3,323,025 and sold 507,920 shares worth $13,397,454. 4.50% of the stock is owned by corporate insiders.

About Grocery Outlet

(Free Report)

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.

See Also

Want to see what other hedge funds are holding GO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grocery Outlet Holding Corp. (NASDAQ:GOFree Report).

Institutional Ownership by Quarter for Grocery Outlet (NASDAQ:GO)

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