Telsey Advisory Group Trims Grocery Outlet (NASDAQ:GO) Target Price to $31.00

Grocery Outlet (NASDAQ:GO) had its price objective decreased by equities research analysts at Telsey Advisory Group from $37.00 to $31.00 in a report issued on Wednesday, Briefing.com reports. The firm presently has an “outperform” rating on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 19.69% from the stock’s current price.

GO has been the subject of several other research reports. Craig Hallum upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Wednesday, February 28th. UBS Group decreased their price objective on shares of Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.78.

Grocery Outlet Price Performance

NASDAQ GO opened at $25.90 on Wednesday. Grocery Outlet has a 52 week low of $23.41 and a 52 week high of $36.54. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 2.47 and a beta of 0.13. The company has a 50-day moving average price of $26.95 and a two-hundred day moving average price of $27.09.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. The firm had revenue of $989.82 million during the quarter, compared to analysts’ expectations of $982.44 million. Analysts forecast that Grocery Outlet will post 0.95 EPS for the current year.

Insider Activity at Grocery Outlet

In related news, Director Thomas F. Herman sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total transaction of $29,000.00. Following the completion of the sale, the director now directly owns 10,400 shares of the company’s stock, valued at $301,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Andrea Renee Bortner sold 5,522 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $25.83, for a total transaction of $142,633.26. Following the completion of the sale, the insider now directly owns 43,786 shares of the company’s stock, valued at $1,130,992.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas F. Herman sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total transaction of $29,000.00. Following the sale, the director now directly owns 10,400 shares of the company’s stock, valued at $301,600. The disclosure for this sale can be found here. Insiders sold a total of 506,588 shares of company stock valued at $13,367,577 over the last ninety days. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Several hedge funds have recently made changes to their positions in the company. 12 West Capital Management LP lifted its position in shares of Grocery Outlet by 383.3% in the 1st quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock valued at $104,328,000 after acquiring an additional 2,875,000 shares in the last quarter. Swiss National Bank lifted its position in shares of Grocery Outlet by 0.6% in the 1st quarter. Swiss National Bank now owns 186,100 shares of the company’s stock valued at $5,356,000 after acquiring an additional 1,200 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Grocery Outlet by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 86,879 shares of the company’s stock valued at $2,500,000 after acquiring an additional 1,126 shares in the last quarter. Geneva Capital Management LLC lifted its position in shares of Grocery Outlet by 0.3% in the 1st quarter. Geneva Capital Management LLC now owns 1,377,552 shares of the company’s stock valued at $39,646,000 after acquiring an additional 4,174 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Grocery Outlet in the 1st quarter valued at approximately $127,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

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.