Grocery Outlet Holding Corp. (NASDAQ:GO) Director Thomas F. Herman Sells 1,000 Shares of Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Thomas F. Herman sold 1,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $29.00, for a total value of $29,000.00. Following the completion of the sale, the director now owns 10,400 shares in the company, valued at $301,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Grocery Outlet Stock Performance

Shares of GO stock opened at $29.00 on Thursday. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 36.71, a price-to-earnings-growth ratio of 2.68 and a beta of 0.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 0.43. The business has a fifty day moving average of $26.17 and a 200 day moving average of $27.41. Grocery Outlet Holding Corp. has a 1 year low of $23.41 and a 1 year high of $36.54.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $989.82 million during the quarter, compared to analyst estimates of $982.44 million. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. As a group, research analysts expect that Grocery Outlet Holding Corp. will post 0.95 earnings per share for the current year.

Institutional Investors Weigh In On Grocery Outlet

Institutional investors have recently modified their holdings of the business. Clearfield Capital Management LP acquired a new stake in Grocery Outlet in the 2nd quarter worth about $31,919,000. Van Berkom & Associates Inc. lifted its stake in Grocery Outlet by 62.4% in the 3rd quarter. Van Berkom & Associates Inc. now owns 2,394,826 shares of the company’s stock worth $69,091,000 after purchasing an additional 920,032 shares in the last quarter. Norges Bank purchased a new position in Grocery Outlet in the 4th quarter worth approximately $24,588,000. Balyasny Asset Management L.P. purchased a new position in Grocery Outlet in the 4th quarter worth approximately $22,781,000. Finally, BlackRock Inc. lifted its stake in Grocery Outlet by 7.7% in the 1st quarter. BlackRock Inc. now owns 8,852,693 shares of the company’s stock worth $290,192,000 after purchasing an additional 631,964 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on GO shares. Telsey Advisory Group decreased their target price on Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Wednesday, February 28th. UBS Group decreased their price objective on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group downgraded Grocery Outlet from a “buy” rating to a “sell” rating and decreased their price objective for the company from $33.00 to $24.00 in a research report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.44.

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.