Grocery Outlet Holding Corp. (NASDAQ:GO) CEO Sells $958,250.00 in Stock

Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) CEO Eric J. Jr. Lindberg sold 25,000 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $38.33, for a total value of $958,250.00. Following the completion of the sale, the chief executive officer now owns 76,114 shares in the company, valued at approximately $2,917,449.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

GO traded down $0.10 during midday trading on Wednesday, reaching $38.15. 1,114,372 shares of the company were exchanged, compared to its average volume of 923,356. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 1.90. The company’s fifty day moving average price is $34.62 and its 200 day moving average price is $30.08. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 68.30, a price-to-earnings-growth ratio of 4.83 and a beta of -0.19. Grocery Outlet Holding Corp. has a one year low of $21.01 and a one year high of $39.50.

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

Several hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in shares of Grocery Outlet in the first quarter valued at approximately $259,000. Sawtooth Solutions LLC bought a new position in shares of Grocery Outlet in the first quarter valued at approximately $206,000. Capital Research Global Investors grew its holdings in shares of Grocery Outlet by 6.7% in the first quarter. Capital Research Global Investors now owns 7,339,446 shares of the company’s stock valued at $240,587,000 after acquiring an additional 463,415 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Grocery Outlet by 32.3% during the first quarter. BNP Paribas Arbitrage SA now owns 12,402 shares of the company’s stock valued at $407,000 after purchasing an additional 3,026 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in Grocery Outlet during the first quarter valued at $118,000. 96.41% of the stock is owned by institutional investors.

A number of brokerages have recently issued reports on GO. Cowen boosted their price objective on Grocery Outlet from $30.00 to $32.00 in a research note on Thursday, March 3rd. Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft raised Grocery Outlet from a “hold” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $40.00 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 objective for the company from $23.00 to $37.00 in a research note on Friday, April 29th. They noted that the move was a valuation call. Finally, Telsey Advisory Group reissued an “outperform” rating on shares of Grocery Outlet in a research note on Thursday, February 24th. 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 company’s stock. According to MarketBeat.com, Grocery Outlet presently has a consensus rating of “Hold” and a consensus target price of $32.70.

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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