Illinois Municipal Retirement Fund Has $908,000 Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

Illinois Municipal Retirement Fund cut its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,179 shares of the company’s stock after selling 1,207 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.06% of Grocery Outlet worth $908,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its holdings in Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in Grocery Outlet in the fourth quarter worth $31,000. Capital Performance Advisors LLP bought a new stake in Grocery Outlet in the third quarter worth $32,000. KBC Group NV boosted its holdings in Grocery Outlet by 62.7% in the fourth quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after purchasing an additional 1,736 shares in the last quarter. Finally, True Wealth Design LLC bought a new stake in Grocery Outlet in the third quarter worth $75,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GO. Wells Fargo & Company decreased their price objective on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Craig Hallum decreased their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Bank of America decreased their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. TD Cowen cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and decreased their price target for the company from $25.00 to $16.00 in a report on Wednesday, November 6th. Finally, Morgan Stanley decreased their price target on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.25.

Insider Transactions at Grocery Outlet

In other news, CFO Christopher M. Miller acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at $116,800. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.50% of the stock is owned by corporate insiders.

Grocery Outlet Price Performance

GO opened at $11.87 on Monday. The company’s 50 day simple moving average is $15.95 and its 200-day simple moving average is $17.02. 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 Holding Corp. has a one year low of $10.26 and a one year high of $29.13. The stock has a market capitalization of $1.16 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32.

Grocery Outlet Profile

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.