Cedar Wealth Management LLC Sells 3,509 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Cedar Wealth Management LLC cut its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 15.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,605 shares of the company’s stock after selling 3,509 shares during the period. Cedar Wealth Management LLC’s holdings in Grocery Outlet were worth $344,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Grocery Outlet by 0.7% during the first quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock valued at $268,628,000 after purchasing an additional 60,830 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Grocery Outlet by 22.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock worth $79,933,000 after purchasing an additional 655,065 shares in the last quarter. Capital World Investors boosted its holdings in shares of Grocery Outlet by 281.4% in the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after buying an additional 2,641,016 shares during the last quarter. Van Berkom & Associates Inc. grew its stake in shares of Grocery Outlet by 21.1% in the second quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company’s stock valued at $77,388,000 after buying an additional 609,871 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Grocery Outlet by 677.6% during the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock worth $43,832,000 after buying an additional 1,726,741 shares during the last quarter. Institutional investors own 99.87% of the company’s stock.

Analyst Ratings Changes

GO has been the topic of a number of recent analyst reports. Melius Research assumed coverage on Grocery Outlet in a research report on Monday, September 23rd. They set a “hold” rating and a $17.00 price target on the stock. Telsey Advisory Group decreased their target price on Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Wednesday, November 6th. UBS Group dropped their price target on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Craig Hallum reduced their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Finally, Bank of America lowered shares of Grocery Outlet from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $29.00 to $17.00 in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Grocery Outlet has a consensus rating of “Hold” and a consensus target price of $18.00.

Grocery Outlet Stock Up 4.3 %

Shares of GO opened at $18.63 on Wednesday. The firm has a 50 day simple moving average of $16.68 and a two-hundred day simple moving average of $19.16. 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 $13.60 and a one year high of $29.80. The company has a market cap of $1.81 billion, a P/E ratio of 36.53, a P/E/G ratio of 4.45 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the company earned $0.25 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Activity at Grocery Outlet

In other news, Director Erik D. Ragatz bought 110,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the acquisition, the director now directly owns 539,785 shares in the company, valued at approximately $9,851,076.25. This represents a 25.59 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares in the company, valued at $1,155,580.02. This trade represents a 73.83 % decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

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.