Federated Hermes Inc. Trims Stock Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Federated Hermes Inc. trimmed its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 18.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,150,136 shares of the company’s stock after selling 261,486 shares during the period. Federated Hermes Inc. owned approximately 1.15% of Grocery Outlet worth $25,441,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Boulder Hill Capital Management LP acquired a new position in shares of Grocery Outlet in the 4th quarter worth approximately $2,038,000. Charles Schwab Investment Management Inc. raised its position in Grocery Outlet by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 879,116 shares of the company’s stock valued at $23,701,000 after purchasing an additional 38,506 shares during the period. Capstone Investment Advisors LLC grew its stake in shares of Grocery Outlet by 161.1% in the first quarter. Capstone Investment Advisors LLC now owns 93,188 shares of the company’s stock worth $2,682,000 after acquiring an additional 57,496 shares in the last quarter. Capital Research Global Investors increased its position in shares of Grocery Outlet by 2.2% during the fourth quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock worth $251,871,000 after acquiring an additional 199,926 shares during the period. Finally, Capital World Investors boosted its holdings in Grocery Outlet by 281.4% in the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after purchasing an additional 2,641,016 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GO shares. Craig Hallum lowered Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price target for the company from $32.00 to $20.00 in a research report on Wednesday, July 31st. Roth Mkm cut their price target on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. UBS Group lowered their price target on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company initiated coverage on shares of Grocery Outlet in a report on Thursday, July 18th. They set an “overweight” rating and a $28.00 price objective on the stock. Finally, Telsey Advisory Group decreased their price objective on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Grocery Outlet presently has an average rating of “Hold” and an average price target of $22.75.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 300,000 shares of company stock valued at $5,617,000 in the last ninety days. Insiders own 4.50% of the company’s stock.

Grocery Outlet Stock Performance

NASDAQ GO opened at $16.44 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29. Grocery Outlet Holding Corp. has a 1-year low of $16.06 and a 1-year high of $30.33. The business’s 50-day simple moving average is $19.18 and its 200-day simple moving average is $22.57. The firm has a market capitalization of $1.64 billion, a P/E ratio of 25.69, a P/E/G ratio of 3.16 and a beta of 0.10.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. Equities analysts predict that Grocery Outlet Holding Corp. will post 0.68 EPS for the current year.

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.