Sei Investments Co. Purchases 66,641 Shares of Grocery Outlet Holding Corp. $GO

Sei Investments Co. grew its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 573.6% during the 1st quarter, HoldingsChannel reports. The firm owned 78,260 shares of the company’s stock after purchasing an additional 66,641 shares during the quarter. Sei Investments Co.’s holdings in Grocery Outlet were worth $552,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GO. Aster Capital Management DIFC Ltd increased its position in shares of Grocery Outlet by 1,030.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,532 shares of the company’s stock valued at $26,000 after buying an additional 2,308 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Grocery Outlet during the 4th quarter worth $35,000. Chicago Partners Investment Group LLC bought a new position in Grocery Outlet during the first quarter worth about $71,000. State of Wyoming lifted its holdings in Grocery Outlet by 96.9% during the fourth quarter. State of Wyoming now owns 7,886 shares of the company’s stock worth $80,000 after acquiring an additional 3,880 shares in the last quarter. Finally, Bayforest Capital Ltd grew its stake in Grocery Outlet by 427.0% in the fourth quarter. Bayforest Capital Ltd now owns 9,465 shares of the company’s stock valued at $96,000 after acquiring an additional 7,669 shares during the period. 99.87% of the stock is owned by institutional investors.

Grocery Outlet Stock Performance

GO opened at $11.13 on Friday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -2.88, a P/E/G ratio of 16.84 and a beta of 0.65. The business’s 50-day moving average price is $9.69 and its two-hundred day moving average price is $8.65. Grocery Outlet Holding Corp. has a 1 year low of $5.66 and a 1 year high of $19.23. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.29 and a quick ratio of 0.27.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Grocery Outlet had a positive return on equity of 5.84% and a negative net margin of 8.04%.Grocery Outlet’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. Equities analysts expect that Grocery Outlet Holding Corp. will post 0.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Paul Blaine Miller bought 5,000 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were purchased at an average price of $9.50 per share, for a total transaction of $47,500.00. Following the purchase, the insider owned 64,171 shares of the company’s stock, valued at approximately $609,624.50. The trade was a 8.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

GO has been the topic of a number of research analyst reports. Weiss Ratings lowered Grocery Outlet from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, July 30th. Morgan Stanley boosted their price objective on Grocery Outlet from $7.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday. TD Cowen increased their target price on Grocery Outlet from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $9.00 target price on shares of Grocery Outlet in a report on Thursday. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $10.00 price target on shares of Grocery Outlet in a research note on Thursday. Twelve investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $10.59.

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.