Brokerages Set Grocery Outlet Holding Corp. (NASDAQ:GO) Price Target at $21.60

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $20.27.

GO has been the subject of a number of research reports. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Craig Hallum downgraded Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $32.00 to $20.00 in a report on Wednesday, July 31st. UBS Group decreased their target price on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Telsey Advisory Group downgraded Grocery Outlet from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $27.00 to $19.00 in a report on Wednesday. Finally, Roth Mkm decreased their target price on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th.

Insider Activity at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at $1,340,728.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the sale, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 500,095 shares of company stock worth $8,876,548. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Grocery Outlet

Several large investors have recently made changes to their positions in GO. Vanguard Group Inc. increased its position in shares of Grocery Outlet by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 9,273,020 shares of the company’s stock worth $250,001,000 after purchasing an additional 101,056 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Grocery Outlet during the first quarter worth approximately $25,000. State of Michigan Retirement System increased its position in shares of Grocery Outlet by 2.5% during the first quarter. State of Michigan Retirement System now owns 24,380 shares of the company’s stock worth $702,000 after purchasing an additional 600 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Grocery Outlet during the first quarter worth approximately $442,000. Finally, Principal Financial Group Inc. increased its position in shares of Grocery Outlet by 2.5% during the first quarter. Principal Financial Group Inc. now owns 373,424 shares of the company’s stock worth $10,747,000 after purchasing an additional 9,236 shares in the last quarter. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Grocery Outlet Price Performance

Shares of NASDAQ GO opened at $14.30 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29. The company has a market cap of $1.40 billion, a PE ratio of 26.48, a P/E/G ratio of 3.21 and a beta of 0.10. The business has a 50-day simple moving average of $16.86 and a two-hundred day simple moving average of $20.09. Grocery Outlet has a fifty-two week low of $13.60 and a fifty-two week high of $29.98.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $0.23 earnings per share. As a group, equities analysts expect that Grocery Outlet will post 0.68 EPS for the current fiscal year.

Grocery Outlet Company Profile

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.