Grocery Outlet Holding Corp. (NASDAQ:GO) Receives $31.44 Average PT from Analysts

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have earned an average rating of “Hold” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $31.44.

GO has been the subject of a number of analyst reports. Telsey Advisory Group reduced their price objective on shares of Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. UBS Group cut their target price on shares of Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Wednesday, February 28th.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, insider Andrea Renee Bortner sold 5,522 shares of Grocery Outlet stock in a transaction on Friday, March 8th. The stock was sold at an average price of $25.83, for a total transaction of $142,633.26. Following the completion of the transaction, the insider now directly owns 43,786 shares of the company’s stock, valued at $1,130,992.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total transaction of $58,000.00. Following the completion of the sale, the director now directly owns 11,400 shares of the company’s stock, valued at approximately $330,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrea Renee Bortner sold 5,522 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $25.83, for a total value of $142,633.26. Following the completion of the transaction, the insider now directly owns 43,786 shares in the company, valued at approximately $1,130,992.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 506,588 shares of company stock valued at $13,367,577. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Grocery Outlet in the 1st quarter valued at $25,000. CWM LLC lifted its position in Grocery Outlet by 248.0% during the 3rd quarter. CWM LLC now owns 1,399 shares of the company’s stock valued at $40,000 after purchasing an additional 997 shares during the period. Acadian Asset Management LLC bought a new position in shares of Grocery Outlet in the 3rd quarter valued at about $113,000. Daiwa Securities Group Inc. bought a new stake in shares of Grocery Outlet during the first quarter worth approximately $127,000. Finally, Headlands Technologies LLC lifted its holdings in Grocery Outlet by 32,200.0% in the fourth quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock valued at $131,000 after buying an additional 4,830 shares during the period. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Grocery Outlet Stock Down 0.4 %

Grocery Outlet stock opened at $25.71 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.57 billion, a P/E ratio of 32.54, a P/E/G ratio of 2.47 and a beta of 0.13. Grocery Outlet has a 1-year low of $23.41 and a 1-year high of $36.54. The firm’s fifty day simple moving average is $26.95 and its 200-day simple moving average is $27.10.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. The company had revenue of $989.82 million during the quarter, compared to the consensus estimate of $982.44 million. Sell-side analysts forecast that Grocery Outlet will post 0.95 earnings per share for the current fiscal year.

About Grocery Outlet

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.