Grocery Outlet Holding Corp. (NASDAQ:GO) Director Sells $3,259,547.55 in Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at $1,155,580.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Grocery Outlet Stock Down 0.2 %

Shares of NASDAQ:GO opened at $16.25 on Thursday. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Grocery Outlet Holding Corp. has a fifty-two week low of $15.72 and a fifty-two week high of $29.98. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 3.12 and a beta of 0.10. The firm’s 50 day moving average price is $18.51 and its 200 day moving average price is $22.09.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on GO. Craig Hallum downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price target for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. UBS Group cut their target price on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Telsey Advisory Group lowered their price target on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company began coverage on Grocery Outlet in a report on Thursday, July 18th. They set an “overweight” rating and a $28.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.11.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in Grocery Outlet during the 1st quarter worth $25,000. Innealta Capital LLC acquired a new stake in shares of Grocery Outlet during the second quarter worth about $38,000. Canada Pension Plan Investment Board acquired a new stake in shares of Grocery Outlet in the 2nd quarter valued at about $82,000. Daiwa Securities Group Inc. purchased a new position in Grocery Outlet during the 1st quarter worth approximately $127,000. Finally, Quest Partners LLC purchased a new position in Grocery Outlet during the 4th quarter worth approximately $193,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

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.