Capital Research Global Investors Cuts GO Stake to 9.3%
Ticker: GO · Form: SC 13G/A · Filed: 2024-02-09T00:00:00.000Z
Sentiment: bearish
Topics: institutional-ownership, stake-reduction, amendment, investor-sentiment
TL;DR
**Big investor Capital Research Global Investors just cut its stake in Grocery Outlet (GO) to 9.3%, down from 12.8%.**
AI Summary
Capital Research Global Investors, a major institutional investor, filed an amended SC 13G/A on February 9, 2024, disclosing a significant decrease in its beneficial ownership of Grocery Outlet Holding Corp. (GO) common stock. As of December 29, 2023, the firm now beneficially owns 9,342,414 shares, representing 9.3% of the company's outstanding common stock. This is a notable reduction from their previous holding of 12,857,000 shares, which represented 12.8% of the company, as reported in their last filing on February 9, 2023. This matters to investors because a large institutional investor reducing its stake could signal a change in their outlook on the company's future performance or valuation.
Why It Matters
A significant reduction in ownership by a major institutional investor like Capital Research Global Investors can be interpreted by the market as a loss of confidence or a strategic reallocation, potentially putting downward pressure on Grocery Outlet Holding Corp.'s stock price.
Risk Assessment
Risk Level: medium — The reduction in a large institutional holding could indicate a perceived increase in risk or a less favorable outlook for Grocery Outlet Holding Corp. by a sophisticated investor.
Analyst Insight
A smart investor would investigate the reasons behind Capital Research Global Investors' reduction in stake, potentially looking into Grocery Outlet Holding Corp.'s recent financial performance, competitive landscape, and future outlook before making any investment decisions. This could signal a need for caution.
Key Numbers
- 9,342,414 — Shares Beneficially Owned (This is the current number of shares Capital Research Global Investors holds in Grocery Outlet Holding Corp.)
- 9.3% — Percentage of Class (This represents the current ownership stake of Capital Research Global Investors in Grocery Outlet Holding Corp.)
- 12.8% — Previous Percentage of Class (This was the ownership stake reported by Capital Research Global Investors in their prior filing, indicating a reduction.)
- December 29, 2023 — Date of Event (This is the specific date when the ownership change occurred that triggered this filing.)
Key Players & Entities
- Capital Research Global Investors (company) — the reporting person who filed the SC 13G/A
- Grocery Outlet Holding Corp. (company) — the subject company whose shares are being reported
- 9,342,414 (dollar_amount) — shares beneficially owned by Capital Research Global Investors
- 9.3% (dollar_amount) — percentage of common stock beneficially owned by Capital Research Global Investors
- December 29, 2023 (date) — the date of the event which required the filing
- February 9, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- Grocery Outlet Holding Corp. (GO) stock may experience short-term downward pressure due to the perceived lack of institutional confidence. (Grocery Outlet Holding Corp.) — medium confidence, target: Q1 2024
- Other institutional investors might review their positions in GO following this disclosure. (Institutional Investors) — low confidence, target: Q2 2024
FAQ
What is the primary purpose of this SC 13G/A filing?
The primary purpose of this SC 13G/A filing is for Capital Research Global Investors to amend its previous Schedule 13G filing, disclosing a change in its beneficial ownership of Grocery Outlet Holding Corp. common stock, specifically a decrease in its stake to 9.3% as of December 29, 2023.
Who is the reporting person in this filing, and what is their IRS Identification Number?
The reporting person is Capital Research Global Investors, and their IRS Identification Number is 95-1411037, as stated on the cover page of the filing.
What is the CUSIP number for Grocery Outlet Holding Corp. common stock?
The CUSIP number for Grocery Outlet Holding Corp. common stock is 39874R101, as indicated on the cover page of the filing.
How many shares does Capital Research Global Investors have sole voting power over?
Capital Research Global Investors has sole voting power over 9,342,414 shares, as reported in Item 5 on the cover page of the filing.
What was the date of the event that required this amendment filing?
The date of the event which required the filing of this statement was December 29, 2023, as specified on the cover page of the filing.
From the Filing
0001422848-24-000043.txt : 20240209 0001422848-24-000043.hdr.sgml : 20240209 20240209174632 ACCESSION NUMBER: 0001422848-24-000043 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Grocery Outlet Holding Corp. CENTRAL INDEX KEY: 0001771515 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 471874201 STATE OF INCORPORATION: DE FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-91396 FILM NUMBER: 24616441 BUSINESS ADDRESS: STREET 1: 5650 HOLLIS STREET CITY: EMERYVILLE STATE: CA ZIP: 94608 BUSINESS PHONE: (510) 845-1999 MAIL ADDRESS: STREET 1: 5650 HOLLIS STREET CITY: EMERYVILLE STATE: CA ZIP: 94608 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Capital Research Global Investors CENTRAL INDEX KEY: 0001422848 ORGANIZATION NAME: IRS NUMBER: 951411037 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 333 SOUTH HOPE STREET STREET 2: 55TH FL CITY: LOS ANGELES STATE: CA ZIP: 90071 BUSINESS PHONE: 213-486-9200 MAIL ADDRESS: STREET 1: 333 SOUTH HOPE STREET STREET 2: 55TH FL CITY: LOS ANGELES STATE: CA ZIP: 90071 SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2 ) * Grocery Outlet Holding Corp. (Name of Issuer) Common Stock (Title of Class of Securities) 39874R101 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 39874R101 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Capital Research Global Investors 95-1411037 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 9,342,414 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 9,342,414 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,342,414 Beneficial ownership disclaimed pursuant to Rule 13d-4 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.4% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer Grocery Outlet Holding Corp. (b) Address of Issuer's Principal Executive Offices 5650 Hollis Street, Emeryville, CA 94608 Item 2. (a) Name of Person Filing Capital Research Global Investors (b) Address of Principal Business Office or, if None, Residence 333 South Hope Street, 55th Fl, Los Angeles, CA 90071 (c) Citizenship N/A (d) Title of Class of Securities Common Stock (e) CUSIP Number 39874R101 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d)