Insider Selling: Grocery Outlet Holding Corp. (NASDAQ:GO) SVP Sells 5,555 Shares of Stock

Posted by on Jun 3rd, 2022

Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) SVP Steven K. Wilson sold 5,555 shares of the business’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $38.42, for a total transaction of $213,423.10. Following the completion of the transaction, the senior vice president now owns 155,993 shares in the company, valued at approximately $5,993,251.06. The sale was disclosed in a legal filing with the SEC, which is available through this link.

NASDAQ GO traded up $0.05 on Thursday, hitting $38.20. The stock had a trading volume of 882,846 shares, compared to its average volume of 922,969. Grocery Outlet Holding Corp. has a one year low of $21.01 and a one year high of $39.50. The company has a quick ratio of 0.68, a current ratio of 1.90 and a debt-to-equity ratio of 0.44. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 68.13, a P/E/G ratio of 4.80 and a beta of -0.21. The company’s 50-day moving average is $34.73 and its two-hundred day moving average is $30.14.

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

A number of equities analysts have commented on GO shares. Telsey Advisory Group reiterated an “outperform” rating on shares of Grocery Outlet in a report on Thursday, February 24th. Cowen upped their target price on shares of Grocery Outlet from $30.00 to $32.00 in a research note on Thursday, March 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and upped their target price for the company from $29.00 to $40.00 in a research note on Wednesday, May 11th. Craig Hallum upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Wednesday, May 11th. Finally, TheStreet upgraded shares of Grocery Outlet from a “d+” rating to a “c-” rating in a research note on Friday, February 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.70.

Institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in shares of Grocery Outlet in the third quarter valued at approximately $36,000. Advisor Group Holdings Inc. boosted its holdings 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 bought a new stake in Grocery Outlet during the fourth quarter worth approximately $202,000. Sawtooth Solutions LLC bought a new stake in Grocery Outlet during the first quarter worth approximately $206,000. Finally, Trexquant Investment LP bought a new stake in Grocery Outlet during the third quarter worth approximately $207,000. Institutional investors and hedge funds 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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Insider Buying and Selling by Quarter for Grocery Outlet (NASDAQ:GO)

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