Heartland Advisors Inc. Purchases Shares of 277,150 Grocery Outlet Holding Corp. $GO

Heartland Advisors Inc. acquired a new position in Grocery Outlet Holding Corp. (NASDAQ:GO) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 277,150 shares of the company’s stock, valued at approximately $4,448,000. Heartland Advisors Inc. owned about 0.28% of Grocery Outlet as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Hussman Strategic Advisors Inc. purchased a new stake in shares of Grocery Outlet during the third quarter valued at approximately $2,696,000. Intech Investment Management LLC bought a new stake in Grocery Outlet during the 2nd quarter valued at $3,835,000. Eisler Capital Management Ltd. boosted its position in Grocery Outlet by 178.5% during the 2nd quarter. Eisler Capital Management Ltd. now owns 227,101 shares of the company’s stock valued at $2,821,000 after buying an additional 145,554 shares during the period. Rice Hall James & Associates LLC grew its holdings in Grocery Outlet by 165.1% in the 3rd quarter. Rice Hall James & Associates LLC now owns 315,898 shares of the company’s stock worth $5,070,000 after acquiring an additional 196,737 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in Grocery Outlet by 113.3% in the 2nd quarter. TD Asset Management Inc now owns 168,452 shares of the company’s stock worth $2,092,000 after acquiring an additional 89,478 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GO. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grocery Outlet in a research note on Thursday, January 22nd. Morgan Stanley lowered their price target on Grocery Outlet from $14.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. UBS Group reiterated a “neutral” rating and issued a $11.50 price objective on shares of Grocery Outlet in a research report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft set a $11.00 target price on Grocery Outlet in a report on Thursday, January 8th. Finally, DA Davidson reiterated a “neutral” rating and issued a $15.00 price target on shares of Grocery Outlet in a report on Thursday, December 4th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Grocery Outlet currently has an average rating of “Hold” and a consensus target price of $14.32.

Grocery Outlet Price Performance

GO opened at $10.04 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.40. The company has a market cap of $985.33 million, a price-to-earnings ratio of -200.80, a price-to-earnings-growth ratio of 2.05 and a beta of 0.49. The stock has a fifty day simple moving average of $9.93 and a two-hundred day simple moving average of $13.30. Grocery Outlet Holding Corp. has a 12-month low of $8.96 and a 12-month high of $19.41.

Grocery Outlet Profile

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.