Analysts Set Grocery Outlet Holding Corp. (NASDAQ:GO) Target Price at $15.58

Grocery Outlet Holding Corp. (NASDAQ:GO) has been assigned an average rating of “Hold” from the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $15.25.

GO has been the topic of several research analyst reports. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price target for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. Roth Mkm decreased their target price on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Morgan Stanley lowered their price target on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 26th. Bank of America dropped their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group lowered their target price on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research note on Thursday, February 27th.

Insider Buying and Selling at Grocery Outlet

In related news, CFO Christopher M. Miller bought 10,000 shares of Grocery Outlet stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $11.68 per share, with a total value of $116,800.00. Following the purchase, the chief financial officer now owns 10,000 shares in the company, valued at approximately $116,800. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Erik D. Ragatz acquired 165,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $12.25 per share, with a total value of $2,021,250.00. Following the completion of the acquisition, the director now owns 201,500 shares of the company’s stock, valued at $2,468,375. This represents a 452.05 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 200,000 shares of company stock valued at $2,435,050. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Grocery Outlet

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Simcoe Capital Management LLC bought a new position in shares of Grocery Outlet in the fourth quarter valued at $53,185,000. Junto Capital Management LP acquired a new position in Grocery Outlet in the 4th quarter valued at $39,128,000. Freestone Grove Partners LP bought a new position in Grocery Outlet during the fourth quarter worth about $13,602,000. FPR Partners LLC increased its holdings in shares of Grocery Outlet by 15.2% during the fourth quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock worth $93,527,000 after purchasing an additional 791,474 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in Grocery Outlet by 159.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company’s stock worth $21,676,000 after acquiring an additional 759,697 shares during the period. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Grocery Outlet Price Performance

Shares of NASDAQ:GO opened at $11.33 on Thursday. Grocery Outlet has a fifty-two week low of $10.26 and a fifty-two week high of $29.13. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The business has a 50-day moving average of $15.86 and a two-hundred day moving average of $16.97. The stock has a market capitalization of $1.10 billion, a P/E ratio of 22.22, a P/E/G ratio of 9.08 and a beta of 0.32.

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.