Red Spruce Capital LLC Buys 12,124 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Red Spruce Capital LLC increased its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 10.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 130,924 shares of the company’s stock after purchasing an additional 12,124 shares during the quarter. Red Spruce Capital LLC owned 0.13% of Grocery Outlet worth $2,044,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Millennium Management LLC raised its stake in shares of Grocery Outlet by 677.6% in the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock valued at $43,832,000 after acquiring an additional 1,726,741 shares during the period. Solel Partners LP bought a new stake in Grocery Outlet in the second quarter worth about $35,980,000. Point72 Asset Management L.P. raised its holdings in shares of Grocery Outlet by 159.8% in the third quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company’s stock worth $21,676,000 after buying an additional 759,697 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Grocery Outlet by 22.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock worth $79,933,000 after acquiring an additional 655,065 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in Grocery Outlet by 357.7% during the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock valued at $9,118,000 after acquiring an additional 406,039 shares during the period. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Analyst Ratings Changes

GO has been the subject of several research analyst reports. Telsey Advisory Group reiterated a “market perform” rating and set a $18.00 target price on shares of Grocery Outlet in a research report on Thursday, December 19th. Bank of America cut shares of Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $17.00 in a research report on Wednesday, October 30th. The Goldman Sachs Group decreased their price target on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Roth Mkm reduced their price objective on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their target price on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.00.

Grocery Outlet Price Performance

GO opened at $15.95 on Wednesday. The firm has a market capitalization of $1.55 billion, a PE ratio of 31.28, a price-to-earnings-growth ratio of 16.92 and a beta of 0.31. The business’s 50-day moving average is $17.72 and its two-hundred day moving average is $17.90. Grocery Outlet Holding Corp. has a 1 year low of $13.60 and a 1 year high of $29.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. Grocery Outlet’s revenue for the quarter was up 10.4% compared to the same quarter last year. Research analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Insider Activity

In other Grocery Outlet news, Director Erik D. Ragatz acquired 110,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the acquisition, the director now directly owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.

About Grocery Outlet

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.