First Eagle Investment Management LLC Purchases 251,000 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

First Eagle Investment Management LLC increased its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 112.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 474,000 shares of the company’s stock after purchasing an additional 251,000 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.49% of Grocery Outlet worth $7,399,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Decker Retirement Planning Inc. bought a new stake in shares of Grocery Outlet in the 4th quarter valued at about $31,000. KBC Group NV raised its holdings in shares of Grocery Outlet by 62.7% in the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock valued at $70,000 after purchasing an additional 1,736 shares during the period. True Wealth Design LLC bought a new stake in shares of Grocery Outlet in the 3rd quarter valued at about $75,000. PNC Financial Services Group Inc. raised its holdings in shares of Grocery Outlet by 472.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the company’s stock valued at $76,000 after purchasing an additional 4,040 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Grocery Outlet in the 4th quarter valued at about $161,000. 99.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Telsey Advisory Group lowered their price target on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a report on Wednesday, February 26th. Morgan Stanley lowered their price target on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company lowered their price target on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group lowered their price target on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a report on Thursday, February 27th. Finally, Bank of America decreased their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.25.

Insider Buying and Selling

In related news, CFO Christopher M. Miller bought 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $116,800. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Steven K. Wilson sold 6,477 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total transaction of $73,449.18. Following the transaction, the executive vice president now directly owns 173,605 shares of the company’s stock, valued at $1,968,680.70. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by company insiders.

Grocery Outlet Stock Performance

NASDAQ GO opened at $11.99 on Friday. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 9.08 and a beta of 0.36. The firm’s 50 day simple moving average is $15.25 and its 200 day simple moving average is $16.59. Grocery Outlet Holding Corp. has a 1 year low of $10.26 and a 1 year high of $29.13.

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.