Washington Capital Management Inc. Purchases 6,100 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Washington Capital Management Inc. grew its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 27.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 28,400 shares of the company’s stock after buying an additional 6,100 shares during the quarter. Washington Capital Management Inc.’s holdings in Grocery Outlet were worth $443,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GO. Blue Trust Inc. increased its stake in Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Grocery Outlet in the 4th quarter valued at about $31,000. Capital Performance Advisors LLP acquired a new stake in shares of Grocery Outlet in the third quarter valued at about $32,000. KBC Group NV raised its holdings in Grocery Outlet by 62.7% during the fourth quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after acquiring an additional 1,736 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in Grocery Outlet during the third quarter valued at approximately $75,000. 99.87% of the stock is currently owned by institutional investors.

Insider Activity at Grocery Outlet

In other news, Director Erik D. Ragatz acquired 110,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the transaction, the director now directly owns 539,785 shares of the company’s stock, valued at $9,851,076.25. This trade represents a 25.59 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is currently owned by corporate insiders.

Grocery Outlet Stock Down 1.2 %

GO stock opened at $16.77 on Thursday. The business’s fifty day moving average price is $17.44 and its two-hundred day moving average price is $17.67. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 16.14 and a beta of 0.31. Grocery Outlet Holding Corp. has a fifty-two week low of $13.60 and a fifty-two week high of $29.19. 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 (NASDAQ:GO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the firm earned $0.25 earnings per share. Grocery Outlet’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GO has been the topic of a number of analyst reports. Craig Hallum dropped their price objective on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company decreased their price objective on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Roth Mkm cut their target price on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Telsey Advisory Group reissued a “market perform” rating and set a $18.00 price target on shares of Grocery Outlet in a research report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Grocery Outlet has a consensus rating of “Hold” and a consensus price target of $18.00.

Grocery Outlet Company 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.