Grocery Outlet Holding Corp. (NASDAQ:GO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have earned a consensus rating of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $20.27.

GO has been the subject of a number of research reports. Roth Mkm lowered their target price on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Melius Research began coverage on Grocery Outlet in a research report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price target for the company. Wells Fargo & Company lowered their price target on Grocery Outlet from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday. Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Telsey Advisory Group downgraded Grocery Outlet from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $27.00 to $19.00 in a research report on Wednesday.

Insiders Place Their Bets

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction on Thursday, September 19th. The stock was 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 $1,155,580.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,340,728.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 500,095 shares of company stock worth $8,876,548 over the last quarter. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Grocery Outlet by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 9,273,020 shares of the company’s stock valued at $250,001,000 after purchasing an additional 101,056 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Grocery Outlet in the first quarter valued at about $25,000. State of Michigan Retirement System grew its stake in Grocery Outlet by 2.5% in the first quarter. State of Michigan Retirement System now owns 24,380 shares of the company’s stock valued at $702,000 after purchasing an additional 600 shares during the last quarter. Norden Group LLC purchased a new position in Grocery Outlet in the first quarter valued at about $442,000. Finally, Principal Financial Group Inc. grew its stake in Grocery Outlet by 2.5% in the first quarter. Principal Financial Group Inc. now owns 373,424 shares of the company’s stock valued at $10,747,000 after purchasing an additional 9,236 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Stock Up 2.9 %

NASDAQ GO opened at $14.30 on Friday. 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 has a market capitalization of $1.40 billion, a P/E ratio of 26.48, a P/E/G ratio of 3.21 and a beta of 0.10. Grocery Outlet has a one year low of $13.60 and a one year high of $29.98. The stock has a 50 day moving average price of $16.86 and a 200-day moving average price of $20.09.

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

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.