Insider Selling: Grocery Outlet Holding Corp. (NASDAQ:GO) VP Sells 2,500 Shares of Stock

Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) VP Lindsay E. Gray sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $38.41, for a total value of $96,025.00. Following the completion of the transaction, the vice president now directly owns 18,598 shares of the company’s stock, valued at $714,349.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

GO traded up $0.19 on Thursday, reaching $38.20. The company’s stock had a trading volume of 820,351 shares, compared to its average volume of 922,182. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 68.21, a price-to-earnings-growth ratio of 4.49 and a beta of -0.19. Grocery Outlet Holding Corp. has a 1 year low of $21.01 and a 1 year high of $39.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.90 and a quick ratio of 0.68. The business’s 50 day moving average is $34.09 and its 200 day moving average is $29.69.

Grocery Outlet (NASDAQ:GO – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Grocery Outlet had a return on equity of 8.65% and a net margin of 1.74%. The firm had revenue of $831.40 million during the quarter, compared to the consensus estimate of $810.39 million. During the same quarter in the prior year, the business posted $0.23 earnings per share. Grocery Outlet’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, research analysts forecast that Grocery Outlet Holding Corp. will post 0.76 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on GO shares. Cowen boosted their price target on Grocery Outlet from $30.00 to $32.00 in a report on Thursday, March 3rd. TheStreet upgraded Grocery Outlet from a “d+” rating to a “c-” rating in a research note on Friday, February 25th. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Wednesday, May 11th. Bank of America raised Grocery Outlet from an “underperform” rating to a “buy” rating and boosted their price target for the company from $23.00 to $37.00 in a research report on Friday, April 29th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft raised Grocery Outlet from a “hold” rating to a “buy” rating and boosted their price target for the company from $29.00 to $40.00 in a research report on Wednesday, May 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Grocery Outlet has an average rating of “Hold” and an average price target of $32.70.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new stake in Grocery Outlet during the third quarter valued at approximately $36,000. Advisor Group Holdings Inc. grew its position in Grocery Outlet by 51.3% during the first quarter. Advisor Group Holdings Inc. now owns 5,508 shares of the company’s stock worth $192,000 after buying an additional 1,868 shares in the last quarter. Lombard Odier Asset Management USA Corp acquired a new stake in Grocery Outlet during the fourth quarter worth about $202,000. Sawtooth Solutions LLC acquired a new stake in Grocery Outlet during the first quarter worth about $206,000. Finally, Trexquant Investment LP acquired a new stake in Grocery Outlet during the third quarter worth about $207,000. Hedge funds and other institutional investors own 96.41% of the company’s stock.

About Grocery Outlet (Get Rating)

Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.

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