Public Sector Pension Investment Board Grows Position in Grocery Outlet Holding Corp. $GO

Public Sector Pension Investment Board increased its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 14.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 382,696 shares of the company’s stock after purchasing an additional 48,472 shares during the period. Public Sector Pension Investment Board’s holdings in Grocery Outlet were worth $6,142,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bayforest Capital Ltd bought a new stake in shares of Grocery Outlet during the 3rd quarter valued at $29,000. Hantz Financial Services Inc. boosted its stake in Grocery Outlet by 591.5% during the third quarter. Hantz Financial Services Inc. now owns 2,033 shares of the company’s stock worth $33,000 after acquiring an additional 1,739 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Grocery Outlet by 32.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock worth $37,000 after purchasing an additional 719 shares during the period. AlphaQuest LLC grew its holdings in Grocery Outlet by 327.7% in the second quarter. AlphaQuest LLC now owns 5,761 shares of the company’s stock worth $72,000 after purchasing an additional 4,414 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Grocery Outlet during the second quarter valued at approximately $120,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Stock Up 2.8%

Grocery Outlet stock opened at $10.32 on Thursday. Grocery Outlet Holding Corp. has a 12 month low of $8.96 and a 12 month high of $19.41. The stock has a fifty day simple moving average of $9.92 and a two-hundred day simple moving average of $13.27. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -206.40, a PEG ratio of 2.00 and a beta of 0.49.

Analysts Set New Price Targets

A number of analysts have recently commented on GO shares. DA Davidson reissued a “neutral” rating and issued a $15.00 price target on shares of Grocery Outlet in a research report on Thursday, December 4th. Zacks Research cut Grocery Outlet from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Telsey Advisory Group dropped their target price on Grocery Outlet from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday. Wells Fargo & Company reduced their price target on Grocery Outlet from $19.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, December 19th. Finally, Bank of America lowered their price target on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Grocery Outlet currently has an average rating of “Hold” and an average price target of $14.32.

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.