Dana Investment Advisors Inc. Purchases New Stake in Grocery Outlet Holding Corp. $GO

Dana Investment Advisors Inc. purchased a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 369,183 shares of the company’s stock, valued at approximately $5,925,000.

Other large investors have also recently made changes to their positions in the company. Bayforest Capital Ltd acquired a new position in shares of Grocery Outlet during the third quarter valued at about $29,000. Hantz Financial Services Inc. raised its holdings in shares of Grocery Outlet by 591.5% in the 3rd 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 during the last quarter. PNC Financial Services Group Inc. lifted its position in Grocery Outlet by 32.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock valued at $37,000 after acquiring an additional 719 shares in the last quarter. AlphaQuest LLC boosted its stake in Grocery Outlet by 327.7% during the 2nd quarter. AlphaQuest LLC now owns 5,761 shares of the company’s stock valued at $72,000 after purchasing an additional 4,414 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in Grocery Outlet during the 2nd quarter worth approximately $120,000. 99.87% of the stock is owned by institutional investors.

Grocery Outlet Stock Up 1.1%

GO stock opened at $10.09 on Wednesday. The stock has a fifty day moving average of $9.87 and a 200-day moving average of $13.08. Grocery Outlet Holding Corp. has a fifty-two week low of $8.96 and a fifty-two week high of $19.41. The company has a market capitalization of $990.20 million, a price-to-earnings ratio of -201.80, a PEG ratio of 2.03 and a beta of 0.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.25 and a current ratio of 1.30.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GO. Deutsche Bank Aktiengesellschaft set a $11.00 price target on Grocery Outlet in a research report on Thursday, January 8th. Telsey Advisory Group lowered their target price on shares of Grocery Outlet from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. UBS Group reissued a “neutral” rating and set a $11.50 price target on shares of Grocery Outlet in a research report on Thursday, December 18th. The Goldman Sachs Group reduced their price objective on shares of Grocery Outlet from $12.00 to $9.00 and set a “sell” rating for the company in a research report on Thursday, February 19th. Finally, DA Davidson reiterated a “neutral” rating and issued a $15.00 price objective on shares of Grocery Outlet in a research note on Thursday, December 4th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Grocery Outlet has an average rating of “Hold” and an average price target of $14.14.

Grocery Outlet 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.