Fisher Asset Management LLC Trims Stake in Grocery Outlet Holding Corp. $GO

Fisher Asset Management LLC lowered its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,566,874 shares of the company’s stock after selling 91,307 shares during the period. Fisher Asset Management LLC’s holdings in Grocery Outlet were worth $41,198,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Marshall Wace LLP increased its position in shares of Grocery Outlet by 0.9% in the second quarter. Marshall Wace LLP now owns 4,556,552 shares of the company’s stock worth $56,592,000 after purchasing an additional 40,977 shares during the last quarter. Van Berkom & Associates Inc. increased its holdings in shares of Grocery Outlet by 16.9% in the 3rd quarter. Van Berkom & Associates Inc. now owns 3,757,022 shares of the company’s stock worth $60,300,000 after buying an additional 543,535 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Grocery Outlet by 41.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,390,051 shares of the company’s stock valued at $29,688,000 after buying an additional 702,807 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Grocery Outlet by 13.7% during the 2nd quarter. First Trust Advisors LP now owns 700,993 shares of the company’s stock worth $8,706,000 after acquiring an additional 84,603 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Grocery Outlet by 375.2% in the second quarter. BNP Paribas Financial Markets now owns 669,130 shares of the company’s stock worth $8,311,000 after acquiring an additional 528,322 shares in the last quarter. Institutional investors own 99.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. DA Davidson restated a “neutral” rating and set a $15.00 price target on shares of Grocery Outlet in a research report on Thursday, December 4th. The Goldman Sachs Group decreased their price objective on Grocery Outlet from $12.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday, February 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grocery Outlet in a research note on Thursday, January 22nd. Bank of America decreased their price target on shares of Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Finally, UBS Group restated a “neutral” rating and issued a $11.50 price objective on shares of Grocery Outlet in a report on Thursday, December 18th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $13.64.

Grocery Outlet Stock Performance

Shares of GO stock opened at $8.87 on Wednesday. The company has a market capitalization of $870.50 million, a P/E ratio of -177.40, a PEG ratio of 1.88 and a beta of 0.50. Grocery Outlet Holding Corp. has a fifty-two week low of $8.76 and a fifty-two week high of $19.41. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.25 and a current ratio of 1.30. The stock has a 50 day moving average price of $9.82 and a two-hundred day moving average price of $12.77.

About Grocery Outlet

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.