Oak Ridge Investments LLC Has $5.33 Million Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Oak Ridge Investments LLC cut its position in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,440 shares of the company’s stock after selling 4,673 shares during the period. Oak Ridge Investments LLC owned 0.15% of Grocery Outlet worth $5,328,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GO. Profund Advisors LLC bought a new stake in shares of Grocery Outlet during the 4th quarter worth about $204,000. Maryland State Retirement & Pension System bought a new stake in shares of Grocery Outlet during the 1st quarter worth about $220,000. Teacher Retirement System of Texas bought a new stake in shares of Grocery Outlet during the 4th quarter worth about $243,000. ProShare Advisors LLC boosted its holdings in shares of Grocery Outlet by 19.2% during the 4th quarter. ProShare Advisors LLC now owns 6,710 shares of the company’s stock worth $263,000 after buying an additional 1,082 shares during the period. Finally, LPL Financial LLC boosted its holdings in shares of Grocery Outlet by 29.0% during the 4th quarter. LPL Financial LLC now owns 7,595 shares of the company’s stock worth $298,000 after buying an additional 1,708 shares during the period. Institutional investors own 98.39% of the company’s stock.

A number of analysts have issued reports on GO shares. Zacks Investment Research downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $37.00 price objective for the company. in a report on Thursday, March 4th. Craig Hallum reissued a “hold” rating and issued a $42.00 price objective (down previously from $50.00) on shares of Grocery Outlet in a report on Tuesday, May 18th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $37.00 price objective on shares of Grocery Outlet in a report on Tuesday, May 18th. Jefferies Financial Group downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and cut their price objective for the company from $45.00 to $32.00 in a report on Friday, June 4th. Finally, Morgan Stanley cut their price objective on shares of Grocery Outlet from $40.00 to $38.00 and set an “equal weight” rating for the company in a report on Wednesday, May 12th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Grocery Outlet currently has a consensus rating of “Buy” and a consensus target price of $43.08.

In related news, CEO Eric J. Jr. Lindberg sold 25,000 shares of the stock in a transaction on Wednesday, May 19th. The shares were sold at an average price of $34.27, for a total transaction of $856,750.00. Following the transaction, the chief executive officer now directly owns 72,960 shares of the company’s stock, valued at $2,500,339.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director S. Macgregor Jr. Read sold 100,000 shares of the stock in a transaction on Friday, April 23rd. The stock was sold at an average price of $40.21, for a total transaction of $4,021,000.00. Following the transaction, the director now directly owns 106,708 shares in the company, valued at $4,290,728.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,430 shares of company stock worth $9,606,250. Insiders own 11.80% of the company’s stock.

Shares of NASDAQ GO opened at $33.96 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.62 and a current ratio of 1.85. Grocery Outlet Holding Corp. has a 52-week low of $32.07 and a 52-week high of $48.87. The company has a 50 day simple moving average of $37.05. The firm has a market cap of $3.25 billion, a PE ratio of 29.79, a P/E/G ratio of 5.14 and a beta of -0.35.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings results on Monday, May 10th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Grocery Outlet had a net margin of 3.61% and a return on equity of 15.49%. The firm had revenue of $752.50 million during the quarter, compared to analysts’ expectations of $757.15 million. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue was down 1.0% on a year-over-year basis. On average, analysts expect that Grocery Outlet Holding Corp. will post 0.92 EPS for the current year.

Grocery Outlet Company Profile

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.

Read More: Why Net Income is Important to Investors

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Institutional Ownership by Quarter for Grocery Outlet (NASDAQ:GO)

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