Telsey Advisory Group Cuts Grocery Outlet (NASDAQ:GO) Price Target to $16.00

Grocery Outlet (NASDAQ:GO) had its target price reduced by Telsey Advisory Group from $18.00 to $16.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a market perform rating on the stock.

GO has been the topic of several other research reports. The Goldman Sachs Group reduced their price target on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Roth Mkm dropped their target price on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. UBS Group dropped their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Wells Fargo & Company dropped their target price on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Finally, Craig Hallum dropped their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.25.

Grocery Outlet Stock Up 0.3 %

GO stock opened at $11.87 on Wednesday. The firm has a market cap of $1.15 billion, a PE ratio of 23.27, a PEG ratio of 9.08 and a beta of 0.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The firm’s 50 day moving average price is $15.95 and its 200-day moving average price is $17.05. Grocery Outlet has a one year low of $10.26 and a one year high of $29.13.

Insiders Place Their Bets

In other Grocery Outlet news, CFO Christopher M. Miller purchased 10,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the purchase, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $116,800. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

A number of institutional investors and hedge funds have recently modified their holdings of the company. FPR Partners LLC grew its stake 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 in the last quarter. Dimensional Fund Advisors LP grew 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 worth $59,845,000 after purchasing an additional 35,938 shares in the last quarter. State Street Corp grew its stake 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 worth $59,796,000 after purchasing an additional 21,237 shares in the last quarter. Simcoe Capital Management LLC acquired a new position in shares of Grocery Outlet during the fourth quarter worth $53,185,000. Finally, Clearbridge Investments LLC grew its stake in shares of Grocery Outlet by 9.4% during the fourth quarter. Clearbridge Investments LLC now owns 3,158,059 shares of the company’s stock worth $49,297,000 after purchasing an additional 272,285 shares in the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

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.