Parnassus Investments Exits Grocery Outlet (GO) Stake

Ticker: GO · Form: SC 13G/A · Filed: 2024-02-12T00:00:00.000Z

Sentiment: bearish

Topics: institutional-ownership, divestment, ownership-change

Related Tickers: GO

TL;DR

**Parnassus Investments dumped all its GO shares, watch out!**

AI Summary

Parnassus Investments, LLC, a San Francisco-based investment firm, filed an amended SC 13G/A on February 12, 2024, indicating a significant change in its ownership of Grocery Outlet Holding Corp. (GO). As of December 31, 2023, Parnassus reported owning 0 shares with sole or shared voting power, a decrease from its previous holdings. This matters to investors because a major institutional investor has completely exited or significantly reduced its stake, which could signal a loss of confidence in the company's future performance.

Why It Matters

When a large institutional investor like Parnassus Investments sells off its entire stake, it can be a red flag for other investors, potentially indicating concerns about the company's outlook or a shift in investment strategy.

Risk Assessment

Risk Level: medium — The complete divestment by an institutional investor could signal underlying issues or a lack of future growth potential for Grocery Outlet Holding Corp.

Analyst Insight

A smart investor would investigate the reasons behind Parnassus Investments' complete divestment from Grocery Outlet Holding Corp. and consider if this signals a fundamental issue with the company before making any investment decisions.

Key Numbers

0 — Shares Beneficially Owned (Parnassus Investments, LLC now holds no shares of Grocery Outlet Holding Corp. with voting power.)
39874R101 — CUSIP Number (Identifies the specific class of securities (Common Stock) of Grocery Outlet Holding Corp.)
February 12, 2024 — Filing Date (The date the amended Schedule 13G/A was filed with the SEC.)
December 31, 2023 — Event Date (The date as of which the ownership change occurred, triggering the filing requirement.)

Key Players & Entities

Parnassus Investments, LLC (company) — the reporting person that filed the SC 13G/A
Grocery Outlet Holding Corp. (company) — the subject company whose shares are being reported
December 31, 2023 (date) — the date of the event which required the filing
0 (dollar_amount) — the number of shares beneficially owned by Parnassus Investments, LLC with sole or shared voting power

Forward-Looking Statements

Other institutional investors may review their positions in Grocery Outlet Holding Corp. following Parnassus's divestment. (Grocery Outlet Holding Corp.) — medium confidence, target: Q1 2024
Grocery Outlet Holding Corp.'s stock price could experience downward pressure in the short term due to this institutional exit. (Grocery Outlet Holding Corp.) — medium confidence, target: February 2024

FAQ

What is the primary purpose of this SC 13G/A filing?

The primary purpose of this SC 13G/A filing is for Parnassus Investments, LLC to amend its previous Schedule 13G filing, reporting a change in its beneficial ownership of Grocery Outlet Holding Corp. shares as of December 31, 2023.

Which entity is the 'Reporting Person' in this filing?

The 'Reporting Person' in this filing is Parnassus Investments, LLC, as indicated by 'NAME OF REPORTING PERSONS Parnassus Investments, LLC' on page 2 of the filing.

What is the current beneficial ownership of Grocery Outlet Holding Corp. shares by Parnassus Investments, LLC, according to this filing?

According to this filing, Parnassus Investments, LLC beneficially owns 0 shares with sole voting power and 0 shares with shared voting power in Grocery Outlet Holding Corp., as stated on page 2 under 'NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER 0' and '6 SHARED VOTING POWER 0'.

What is the CUSIP number for the class of securities reported in this filing?

The CUSIP number for the class of securities, which is Common stock of Grocery Outlet Holding Corp., is 39874R101, as stated on the cover page and page 2 of the filing.

What was the 'Date of Event Which Requires Filing of this Statement'?

The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified on the cover page of the filing.

From the Filing

0001172661-24-000698.txt : 20240212 0001172661-24-000698.hdr.sgml : 20240212 20240212152135 ACCESSION NUMBER: 0001172661-24-000698 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240212 DATE AS OF CHANGE: 20240212 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: 24619488 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: PARNASSUS INVESTMENTS, LLC CENTRAL INDEX KEY: 0000948669 ORGANIZATION NAME: IRS NUMBER: 872269073 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1 MARKET STREET #1600 CITY: SAN FRANCISCO STATE: CA ZIP: 94105 BUSINESS PHONE: 4157780200 MAIL ADDRESS: STREET 1: 1 MARKET STREET #1600 CITY: SAN FRANCISCO STATE: CA ZIP: 94105 FORMER COMPANY: FORMER CONFORMED NAME: PARNASSUS INVESTMENTS /CA DATE OF NAME CHANGE: 19990326 SC 13G/A 1 parnassus-go123123a2.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13G/A Under the Securities Exchange Act of 1934 (Amendment No. 2)* Grocery Outlet Holding Corp. (Name of Issuer) Common (Title of Class of Securities) 39874R101 (CUSIP Number) December 31, 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) o 	Rule 13d-1(c) o 	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 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 (“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   SCHEDULE 13G/A Page 2 of 6 Pages           1 NAME OF REPORTING PERSONS   Parnassus Investments, LLC 87-2269073 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) o (b) o   3 SEC USE ONLY     4 CITIZENSHIP OR PLACE OF ORGANIZATION San Francisco, California - U.S.A. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER   0 6 SHARED VOTING POWER   0 7 SOLE DISPOSITIVE POWER   0 8 SHARED DISPOSITIVE POWER   0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   0 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES     o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   0.00% 12 TYPE OF REPORTING PERSON   IA CUSIP No. 39874R101   SCHEDULE 13G/A Page 3 of 6 Pages 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 Parnassus Investments, LLC (b)	Address of Principal Business Office, or, if none, Residence 1 Market Street, Suite 1600 San Francisco, CA 94105 (c)	Citizenship California - U.S.A. (d)	Title of Class of Securities Common (e) CUSIP No.: 39874R101 CUSIP No. 39874R101   SCHEDULE 13G/A Page 4 of 6 Pages Item 3.	If this statement is filed pursuant to §§240.13d-1(b) o