Eric J. Jr. Lindberg Sells 200,095 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) 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 value of $3,259,547.55. Following the sale, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Grocery Outlet Stock Performance

GO stock opened at $16.28 on Wednesday. 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 52-week low of $15.72 and a 52-week high of $29.98. The company’s 50-day simple moving average is $18.60 and its 200-day simple moving average is $22.15. The firm has a market cap of $1.63 billion, a P/E ratio of 25.44, a PEG ratio of 3.16 and a beta of 0.10.

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

Institutional Investors Weigh In On Grocery Outlet

Several institutional investors have recently bought and sold shares of GO. Point72 Asset Management L.P. boosted its stake in Grocery Outlet by 73.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 475,381 shares of the company’s stock worth $10,515,000 after purchasing an additional 201,881 shares during the last quarter. Lighthouse Investment Partners LLC lifted its stake in shares of Grocery Outlet by 54.0% in the second quarter. Lighthouse Investment Partners LLC now owns 300,000 shares of the company’s stock worth $6,636,000 after buying an additional 105,160 shares in the last quarter. Millennium Management LLC boosted its position in Grocery Outlet by 677.6% during the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock worth $43,832,000 after acquiring an additional 1,726,741 shares during the last quarter. Solel Partners LP purchased a new stake in Grocery Outlet during the 2nd quarter valued at about $35,980,000. Finally, Providence Capital Advisors LLC raised its holdings in Grocery Outlet by 80.9% in the 2nd quarter. Providence Capital Advisors LLC now owns 285,803 shares of the company’s stock valued at $6,322,000 after acquiring an additional 127,812 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Craig Hallum lowered Grocery Outlet from a “buy” rating to a “hold” rating and dropped their target price for the company from $32.00 to $20.00 in a research report on Wednesday, July 31st. Telsey Advisory Group dropped their price objective on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Roth Mkm reduced their target price on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Melius Research initiated coverage on shares of Grocery Outlet in a research report on Monday. They set a “hold” rating and a $17.00 target price for the company. Finally, UBS Group cut their price target 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $22.11.

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.