Baker Tilly Wealth Management LLC decreased its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) by 12.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,569 shares of the company’s stock after selling 1,483 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Grocery Outlet were worth $299,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in Grocery Outlet during the 3rd quarter worth about $36,000. Trexquant Investment LP purchased a new stake in Grocery Outlet during the 3rd quarter worth about $207,000. ProShare Advisors LLC purchased a new stake in Grocery Outlet during the 4th quarter worth about $223,000. Crossmark Global Holdings Inc. purchased a new stake in Grocery Outlet during the 4th quarter worth about $229,000. Finally, Precision Wealth Strategies LLC purchased a new stake in Grocery Outlet during the 4th quarter worth about $242,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on GO shares. TheStreet raised Grocery Outlet from a “d+” rating to a “c-” rating in a report on Friday, February 25th. Cowen raised their price target on Grocery Outlet from $30.00 to $32.00 in a report on Thursday, March 3rd. Bank of America raised Grocery Outlet from an “underperform” rating to a “buy” rating and raised their price target for the company from $23.00 to $37.00 in a report on Friday. They noted that the move was a valuation call. Finally, Telsey Advisory Group reaffirmed an “outperform” rating on shares of Grocery Outlet in a report on Thursday, February 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Grocery Outlet presently has an average rating of “Hold” and an average price target of $30.80.
Grocery Outlet (NASDAQ:GO – Get Rating) last posted its quarterly earnings results on Tuesday, March 1st. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. Grocery Outlet had a return on equity of 8.98% and a net margin of 2.02%. The business had revenue of $782.70 million for the quarter, compared to analyst estimates of $778.71 million. During the same period last year, the company earned $0.24 EPS. Grocery Outlet’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Grocery Outlet Holding Corp. will post 0.95 EPS for the current year.
In other news, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $34.07, for a total value of $68,140.00. Following the sale, the director now directly owns 43,517 shares in the company, valued at approximately $1,482,624.19. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Robert Joseph Jr. Sheedy sold 4,194 shares of Grocery Outlet stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $28.39, for a total value of $119,067.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,980 shares of company stock worth $4,318,598. 11.80% of the stock is owned by corporate insiders.
About Grocery Outlet (Get Rating)
Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.
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