Charles Schwab Investment Management Increases Stake in Grocery Outlet Holding Corp.

Charles Schwab Investment Management Inc. has increased its stake in Grocery Outlet Holding Corp. (NASDAQ:GO) by 11.8% during the fourth quarter. This information was disclosed in the company's latest 13F filing with the SEC. After acquiring an additional 138,161 shares during the quarter, the institutional investor now holds 1,308,631 shares of Grocery Outlet. This stake represents approximately 1.35% ownership in the company, valued at $20,428,000 at the close of the recent reporting period.

Many other large investors have also adjusted their positions in Grocery Outlet. For instance, Decker Retirement Planning Inc. purchased a new stake valued at about $31,000 during the fourth quarter. KBC Group NV increased its investment by 62.7%, now owning 4,506 shares worth $70,000 after acquiring 1,736 additional shares. True Wealth Design LLC started a new position in Grocery Outlet in the third quarter worth approximately $75,000. Proficio Capital Partners LLC also entered the market, buying new shares valued at roughly $161,000 in the fourth quarter. Blueshift Asset Management LLC purchased shares worth about $227,000 in the third quarter. Overall, institutional investors own approximately 99.87% of Grocery Outlet's stock.

Grocery Outlet Stock Performance

On Thursday, Grocery Outlet stock opened at $12.55. The company boasts a market capitalization of $1.22 billion, with a price-to-earnings (P/E) ratio of 24.61 and a price/earnings to growth (P/E/G) ratio of 9.08. The stock has a beta of 0.36, indicating low volatility in comparison to the market. Additionally, the company holds a debt-to-equity ratio of 0.34, a quick ratio of 0.33, and a current ratio of 1.46. Over the past year, Grocery Outlet has experienced a low of $10.26 and a high of $29.13.

Analyst Ratings and Price Targets

Recent analyst reports indicate mixed forecasts for Grocery Outlet's stock. The Goldman Sachs Group lowered its price target from $14.00 to $11.00, assigning a "sell" rating to the stock. Meanwhile, Wells Fargo & Company adjusted its target price from $23.00 to $18.00 while maintaining an "overweight" rating. Similarly, Telsey Advisory Group decreased its target from $18.00 to $16.00 with a "market perform" rating. Bank of America reduced its price target from $20.00 to $17.00, rating the stock as "neutral." Additionally, Morgan Stanley cut their target price drastically from $13.00 to $10.00, indicating an "underperform" rating. In summary, two analysts rate the stock as a sell, nine as hold, one as buy, and one as strong buy. The consensus rating amounts to "Hold" with an average price target of $15.25.

Insider Activity

In other news regarding Grocery Outlet, Senior Vice President Lindsay E. Gray sold 2,741 shares on March 4th, at an average price of $11.34, totaling approximately $31,082.94. After this sale, Gray still owns 41,448 shares valued around $470,020.32, which reflects a 6.20% decrease in share ownership. This transaction has been reported to the SEC. On a positive note, Chief Financial Officer Christopher M. Miller bought 10,000 shares at an average price of $11.68 per share, costing about $116,800.00. Following this acquisition, Miller holds 10,000 shares worth approximately the same amount. Over the past 90 days, insiders have bought 200,000 shares totaling around $2,435,050 and sold 17,756 shares valued at approximately $216,892. Currently, insiders own about 4.50% of Grocery Outlet's stock.

Company Overview

Grocery Outlet Holding Corp. operates as a retailer providing a variety of consumable and perishable goods through independently owned stores in the United States. The stores offer an array of products, including dairy, deli items, produce, fresh meats, seafood, groceries, health and beauty care, frozen foods, and beverages.

Investment, Stock, Acquisition