Grocery Outlet (NASDAQ:GO) Reaches New 12-Month Low at $18.77

Grocery Outlet Holding Corp. (NASDAQ:GO) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $18.77 and last traded at $18.83, with a volume of 1575483 shares trading hands. The stock had previously closed at $19.21.

Analyst Ratings Changes

GO has been the topic of several recent analyst reports. Roth Mkm dropped their price target on shares of Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. TD Cowen decreased their target price on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Craig Hallum lowered Grocery Outlet from a “buy” rating to a “hold” rating and cut their price target for the stock from $32.00 to $20.00 in a research report on Wednesday. Telsey Advisory Group reissued an “outperform” rating and issued a $31.00 price objective on shares of Grocery Outlet in a report on Wednesday. Finally, The Goldman Sachs Group cut their target price on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.36.

Grocery Outlet Stock Performance

The company has a market cap of $1.88 billion, a price-to-earnings ratio of 30.02, a P/E/G ratio of 3.61 and a beta of 0.09. The company has a current ratio of 1.25, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $21.18 and its 200 day moving average price is $24.20.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. On average, analysts expect that Grocery Outlet Holding Corp. will post 0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Luke D. Thompson sold 1,332 shares of Grocery Outlet stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total transaction of $29,876.76. Following the sale, the executive vice president now owns 32,306 shares of the company’s stock, valued at approximately $724,623.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Grocery Outlet news, EVP Luke D. Thompson sold 1,332 shares of Grocery Outlet stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $22.43, for a total transaction of $29,876.76. Following the sale, the executive vice president now directly owns 32,306 shares in the company, valued at approximately $724,623.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John E. Bachman bought 10,000 shares of Grocery Outlet stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average price of $20.09 per share, with a total value of $200,900.00. Following the completion of the purchase, the director now owns 25,872 shares in the company, valued at approximately $519,768.48. The disclosure for this purchase can be found here. 4.50% of the stock is owned by company insiders.

Institutional Trading of Grocery Outlet

Institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its holdings in shares of Grocery Outlet by 2.2% during the fourth quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock valued at $251,871,000 after acquiring an additional 199,926 shares during the period. Vanguard Group Inc. increased its stake in shares of Grocery Outlet by 0.7% in the first quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock valued at $268,628,000 after purchasing an additional 60,830 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Grocery Outlet by 4.6% during the fourth quarter. Mackenzie Financial Corp now owns 4,926,336 shares of the company’s stock valued at $132,814,000 after buying an additional 216,257 shares during the last quarter. 12 West Capital Management LP grew its holdings in 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 worth $104,328,000 after buying an additional 2,875,000 shares in the last quarter. Finally, Capital World Investors increased its position in Grocery Outlet by 281.4% in the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after acquiring an additional 2,641,016 shares during the period. 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.