Grocery Outlet Holding Corp. (NYSE:GO) CAO Pamela B. Burke sold 11,314 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $43.00, for a total transaction of $486,502.00. Following the transaction, the chief accounting officer now owns 20,364 shares of the company’s stock, valued at approximately $875,652. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Grocery Outlet stock opened at $43.99 on Friday. Grocery Outlet Holding Corp. has a 1 year low of $28.11 and a 1 year high of $47.57. The company has a 50 day simple moving average of $39.44 and a two-hundred day simple moving average of $35.37.
Grocery Outlet (NYSE:GO) last released its quarterly earnings data on Monday, May 11th. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.04. The company had revenue of $760.30 million during the quarter, compared to analysts’ expectations of $748.13 million. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS.
Several large investors have recently made changes to their positions in GO. Invesco Ltd. raised its stake in Grocery Outlet by 19.5% during the first quarter. Invesco Ltd. now owns 684,484 shares of the company’s stock valued at $23,505,000 after buying an additional 111,707 shares during the last quarter. State Street Corp grew its position in Grocery Outlet by 71.3% during the first quarter. State Street Corp now owns 815,635 shares of the company’s stock valued at $28,009,000 after buying an additional 339,477 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Grocery Outlet by 182.8% in the 1st quarter. Treasurer of the State of North Carolina now owns 21,830 shares of the company’s stock worth $750,000 after purchasing an additional 14,110 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Grocery Outlet in the first quarter worth about $68,000. Finally, Legal & General Group Plc lifted its holdings in Grocery Outlet by 86.9% during the first quarter. Legal & General Group Plc now owns 37,768 shares of the company’s stock valued at $1,297,000 after purchasing an additional 17,557 shares in the last quarter.
GO has been the subject of a number of research reports. Cowen reiterated a “buy” rating and set a $48.00 price objective on shares of Grocery Outlet in a report on Thursday, June 18th. Nomura initiated coverage on shares of Grocery Outlet in a research report on Tuesday, June 16th. They issued a “buy” rating and a $40.00 target price for the company. UBS Group boosted their price target on Grocery Outlet from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. MKM Partners initiated coverage on shares of Grocery Outlet in a research report on Wednesday. They issued a “buy” rating and a $50.00 target price for the company. Finally, Goldman Sachs Group upped their price objective on Grocery Outlet from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $43.85.
About Grocery Outlet
Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.
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