Jane Street Group LLC Grows Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Jane Street Group LLC grew its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 357.7% in the third quarter, HoldingsChannel.com reports. The fund owned 519,542 shares of the company’s stock after purchasing an additional 406,039 shares during the period. Jane Street Group LLC’s holdings in Grocery Outlet were worth $9,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp raised its stake in Grocery Outlet by 0.6% in the third quarter. State Street Corp now owns 3,407,152 shares of the company’s stock valued at $59,796,000 after purchasing an additional 21,237 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Grocery Outlet in the 3rd quarter worth $566,000. Point72 Asset Management L.P. raised its position in shares of Grocery Outlet by 159.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company’s stock valued at $21,676,000 after buying an additional 759,697 shares in the last quarter. Holocene Advisors LP lifted its holdings in shares of Grocery Outlet by 56.2% during the 3rd quarter. Holocene Advisors LP now owns 255,235 shares of the company’s stock worth $4,479,000 after acquiring an additional 91,801 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in Grocery Outlet in the third quarter worth $350,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Trading Down 0.3 %

NASDAQ GO opened at $19.11 on Friday. The stock has a market cap of $1.86 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 4.74 and a beta of 0.25. Grocery Outlet Holding Corp. has a fifty-two week low of $13.60 and a fifty-two week high of $29.80. The stock has a 50 day simple moving average of $17.80 and a two-hundred day simple moving average of $18.89. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

Grocery Outlet (NASDAQ:GO) last announced 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. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. On average, analysts forecast that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Insider Activity

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

Analyst Ratings Changes

GO has been the subject of several research analyst reports. The Goldman Sachs Group dropped their price target on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research note on Friday, November 1st. UBS Group decreased their price target on shares of 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 cut their price target 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. Telsey Advisory Group lowered their target price on Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Wednesday, November 6th. Finally, Loop Capital started coverage on Grocery Outlet in a report on Thursday, October 17th. They set a “hold” rating and a $17.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.00.

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.