Twinbeech Capital LP Acquires Shares of 258,793 Grocery Outlet Holding Corp. (NASDAQ:GO)

Twinbeech Capital LP acquired a new stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 258,793 shares of the company’s stock, valued at approximately $4,040,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GO. Barclays PLC increased its position in Grocery Outlet by 1,224.1% in the 3rd quarter. Barclays PLC now owns 300,393 shares of the company’s stock valued at $5,271,000 after acquiring an additional 277,706 shares in the last quarter. Sterling Capital Management LLC increased its position in Grocery Outlet by 53.9% in the 4th quarter. Sterling Capital Management LLC now owns 5,808 shares of the company’s stock valued at $91,000 after acquiring an additional 2,034 shares in the last quarter. Choreo LLC acquired a new stake in Grocery Outlet in the 4th quarter valued at about $245,000. New York State Common Retirement Fund increased its position in Grocery Outlet by 124.7% in the 4th quarter. New York State Common Retirement Fund now owns 88,350 shares of the company’s stock valued at $1,379,000 after acquiring an additional 49,035 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Grocery Outlet in the 4th quarter valued at about $1,079,000. 99.87% of the stock is owned by institutional investors.

Grocery Outlet Stock Down 1.1%

Shares of NASDAQ:GO opened at $13.97 on Wednesday. Grocery Outlet Holding Corp. has a one year low of $10.26 and a one year high of $23.25. The company has a 50 day moving average of $14.32 and a 200-day moving average of $15.78. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 9.08 and a beta of 0.42.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.06. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the firm earned $0.09 EPS. Grocery Outlet’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts forecast that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Insider Buying and Selling

In other Grocery Outlet news, SVP Lindsay E. Gray sold 2,741 shares of Grocery Outlet stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total value of $31,082.94. Following the transaction, the senior vice president now owns 41,448 shares of the company’s stock, valued at approximately $470,020.32. The trade was a 6.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher M. Miller purchased 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $11.68 per share, for a total transaction of $116,800.00. Following the purchase, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $116,800. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 219,000 shares of company stock valued at $2,709,790 and have sold 17,756 shares valued at $216,892. 4.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GO has been the subject of several research reports. The Goldman Sachs Group lowered their price objective on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research report on Wednesday, February 26th. Morgan Stanley lowered their price objective on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company raised their price objective on shares of Grocery Outlet from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $16.00 price target on shares of Grocery Outlet in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.62.

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.