Grocery Outlet Holding Corp. (NASDAQ:GO) EVP Steven K. Wilson Sells 6,477 Shares of Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) EVP Steven K. Wilson sold 6,477 shares of Grocery Outlet stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total value of $73,449.18. Following the sale, the executive vice president now directly owns 173,605 shares of the company’s stock, valued at $1,968,680.70. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Grocery Outlet Stock Performance

Shares of Grocery Outlet stock opened at $11.53 on Friday. The company has a 50-day simple moving average of $15.60 and a two-hundred day simple moving average of $16.84. The company has a market capitalization of $1.12 billion, a PE ratio of 22.61, a P/E/G ratio of 9.08 and a beta of 0.36. Grocery Outlet Holding Corp. has a one year low of $10.26 and a one year high of $29.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research report on Wednesday, February 26th. Bank of America dropped their price target on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group dropped their price target on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company decreased their price objective on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley decreased their price target on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.25.

Institutional Trading of Grocery Outlet

Several large investors have recently added to or reduced their stakes in GO. Franklin Resources Inc. increased its position in Grocery Outlet by 1.8% during the third quarter. Franklin Resources Inc. now owns 29,987 shares of the company’s stock worth $526,000 after buying an additional 529 shares during the period. Amundi boosted its holdings in Grocery Outlet by 0.6% in the fourth quarter. Amundi now owns 116,139 shares of the company’s stock valued at $1,895,000 after purchasing an additional 719 shares during the last quarter. Cedar Wealth Management LLC boosted its holdings in Grocery Outlet by 3.9% in the fourth quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company’s stock valued at $318,000 after purchasing an additional 765 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Grocery Outlet by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock worth $732,000 after buying an additional 1,240 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of Grocery Outlet by 9.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 15,671 shares of the company’s stock worth $245,000 after purchasing an additional 1,377 shares during the last quarter. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

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.