Steven K. Wilson Sells 6,682 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) EVP Steven K. Wilson sold 6,682 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $13.16, for a total value of $87,935.12. Following the transaction, the executive vice president now owns 166,923 shares in the company, valued at $2,196,706.68. This trade represents a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Grocery Outlet Trading Down 4.3 %

NASDAQ:GO traded down $0.58 during trading hours on Tuesday, hitting $12.88. The company had a trading volume of 2,838,419 shares, compared to its average volume of 2,024,251. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $29.13. The company has a market capitalization of $1.25 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 9.08 and a beta of 0.36. The stock has a 50-day moving average price of $15.52 and a 200 day moving average price of $16.74.

Hedge Funds Weigh In On Grocery Outlet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FPR Partners LLC increased its stake in shares of Grocery Outlet by 15.2% in the 4th quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock worth $93,527,000 after acquiring an additional 791,474 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Grocery Outlet by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,833,955 shares of the company’s stock valued at $59,845,000 after purchasing an additional 35,938 shares in the last quarter. State Street Corp lifted its holdings in shares of Grocery Outlet by 0.6% during the third quarter. State Street Corp now owns 3,407,152 shares of the company’s stock valued at $59,796,000 after purchasing an additional 21,237 shares during the last quarter. Simcoe Capital Management LLC bought a new stake in shares of Grocery Outlet in the 4th quarter worth approximately $53,185,000. Finally, Clearbridge Investments LLC grew its stake in shares of Grocery Outlet by 9.4% in the 4th quarter. Clearbridge Investments LLC now owns 3,158,059 shares of the company’s stock worth $49,297,000 after buying an additional 272,285 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GO shares. Wells Fargo & Company reduced their price target on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Bank of America decreased their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group reduced their price objective on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a research note on Thursday, February 27th. Telsey Advisory Group lowered their target price on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research note on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.25.

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.