Brokerages Set Grocery Outlet Holding Corp. (NASDAQ:GO) Target Price at $22.75

Grocery Outlet Holding Corp. (NASDAQ:GO) has received an average recommendation of “Hold” from the nine research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $22.75.

GO has been the subject of several research analyst reports. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Telsey Advisory Group dropped their price target on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Roth Mkm decreased their price objective on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Craig Hallum cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and cut their target price for the stock from $32.00 to $20.00 in a research report on Wednesday, July 31st. Finally, UBS Group lowered their price target on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th.

Insider Buying and Selling at Grocery Outlet

In related news, 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 transaction, the director now directly owns 70,938 shares in the company, valued at $1,340,728.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 300,000 shares of company stock worth $5,617,000. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boulder Hill Capital Management LP purchased a new stake in Grocery Outlet during the fourth quarter worth approximately $2,038,000. Charles Schwab Investment Management Inc. boosted its position in Grocery Outlet by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 879,116 shares of the company’s stock worth $23,701,000 after purchasing an additional 38,506 shares during the period. Capstone Investment Advisors LLC raised its position in Grocery Outlet by 161.1% in the first quarter. Capstone Investment Advisors LLC now owns 93,188 shares of the company’s stock valued at $2,682,000 after purchasing an additional 57,496 shares during the period. Capital Research Global Investors lifted its stake 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 worth $251,871,000 after purchasing an additional 199,926 shares in the last quarter. Finally, Capital World Investors boosted its position in shares of Grocery Outlet by 281.4% in the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock worth $103,023,000 after buying an additional 2,641,016 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

Grocery Outlet Trading Down 1.5 %

NASDAQ:GO opened at $16.49 on Thursday. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 3.31 and a beta of 0.10. Grocery Outlet has a 1 year low of $16.33 and a 1 year high of $30.48. The stock has a fifty day moving average price of $19.40 and a two-hundred day moving average price of $22.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business earned $0.23 earnings per share. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Grocery Outlet will post 0.68 earnings per share for the current fiscal year.

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.