Grocery Outlet Holding Corp. (NASDAQ:GO) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank (2024)

Posted by Defense World Staff on May 3rd, 2024

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO – Free Report) by 7.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,047 shares of the company’s stock after selling 1,317 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Grocery Outlet were worth $460,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. CWM LLC raised its stake in shares of Grocery Outlet by 248.0% during the third quarter. CWM LLC now owns 1,399 shares of the company’s stock valued at $40,000 after purchasing an additional 997 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Grocery Outlet during the 3rd quarter valued at about $113,000. Corton Capital Inc. acquired a new stake in shares of Grocery Outlet during the 3rd quarter valued at about $216,000. Numerai GP LLC acquired a new stake in shares of Grocery Outlet during the 3rd quarter valued at about $236,000. Finally, Securian Asset Management Inc. lifted its holdings in Grocery Outlet by 5.4% in the 3rd quarter. Securian Asset Management Inc. now owns 8,366 shares of the company’s stock worth $241,000 after purchasing an additional 432 shares during the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Insider Buying and Selling

In related news, insider Andrea Renee Bortner sold 4,112 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $26.33, for a total transaction of $108,268.96. Following the completion of the transaction, the insider now directly owns 49,308 shares in the company, valued at $1,298,279.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Grocery Outlet news, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total value of $58,000.00. Following the completion of the transaction, the director now directly owns 11,400 shares in the company, valued at $330,600. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrea Renee Bortner sold 4,112 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $26.33, for a total value of $108,268.96. Following the completion of the transaction, the insider now owns 49,308 shares of the company’s stock, valued at $1,298,279.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 506,588 shares of company stock worth $13,367,577. 4.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Wednesday, February 28th. Telsey Advisory Group lowered their price objective on Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, UBS Group lowered their price objective on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.44.

View Our Latest Analysis on GO

Grocery Outlet Stock Up 1.0 %

Shares of Grocery Outlet stock opened at $25.81 on Friday. Grocery Outlet Holding Corp. has a 1 year low of $23.41 and a 1 year high of $36.54. The business has a 50-day moving average of $26.96 and a two-hundred day moving average of $27.13. The company has a market capitalization of $2.58 billion, a P/E ratio of 32.67, a price-to-earnings-growth ratio of 2.50 and a beta of 0.13. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 0.43.

Grocery Outlet (NASDAQ:GO – Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $989.82 million during the quarter, compared to the consensus estimate of $982.44 million. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. As a group, equities analysts predict that Grocery Outlet Holding Corp. will post 0.95 EPS for the current year.

About Grocery Outlet

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