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

Grocery Outlet (NASDAQ:GO) had its target price cut by UBS Group from $21.00 to $16.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

GO has been the topic of a number of other research reports. Roth Mkm dropped their target price on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday. Loop Capital assumed coverage on shares of Grocery Outlet in a report on Thursday, October 17th. They set a “hold” rating and a $17.00 price objective on the stock. Bank of America downgraded shares of Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $29.00 to $17.00 in a report on Wednesday, October 30th. Craig Hallum lowered their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.17.

Grocery Outlet Trading Up 3.4 %

Shares of NASDAQ GO traded up $0.55 during midday trading on Wednesday, reaching $16.66. The stock had a trading volume of 122,833 shares, compared to its average volume of 1,812,992. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 3.42 and a beta of 0.13. Grocery Outlet has a twelve month low of $13.60 and a twelve month high of $29.98. 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’s 50 day moving average price is $16.66 and its 200 day moving average price is $19.75.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 EPS. As a group, sell-side analysts expect that Grocery Outlet will post 0.66 EPS for the current year.

Insiders Place Their Bets

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the 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 transaction, the director now owns 70,938 shares in the company, valued at $1,155,580.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at approximately $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. Insiders sold 500,095 shares of company stock worth $8,876,548 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Grocery Outlet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors raised its stake in Grocery Outlet by 281.4% in the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after purchasing an additional 2,641,016 shares in the last quarter. Millennium Management LLC raised its stake in Grocery Outlet by 677.6% in the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock valued at $43,832,000 after purchasing an additional 1,726,741 shares in the last quarter. CWM LLC raised its stake in Grocery Outlet by 505.6% in the third quarter. CWM LLC now owns 51,933 shares of the company’s stock valued at $911,000 after purchasing an additional 43,358 shares in the last quarter. Bleakley Financial Group LLC purchased a new stake in Grocery Outlet in the first quarter valued at approximately $217,000. Finally, Thrivent Financial for Lutherans grew its position in Grocery Outlet by 137.5% during the second quarter. Thrivent Financial for Lutherans now owns 197,916 shares of the company’s stock valued at $4,378,000 after acquiring an additional 114,576 shares during the last quarter. 99.87% of the stock is owned by hedge funds and other institutional investors.

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.