Grocery Outlet (NASDAQ:GO) Given New $31.00 Price Target at Telsey Advisory Group

Grocery Outlet (NASDAQ:GO) had its price target reduced by Telsey Advisory Group from $37.00 to $31.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have an outperform rating on the stock.

Other analysts also recently issued research reports about the company. Craig Hallum upgraded Grocery Outlet from a hold rating to a buy rating and set a $36.00 price target for the company in a research note on Wednesday, February 28th. UBS Group decreased their target price 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. 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. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $30.44.

Grocery Outlet Stock Performance

GO opened at $20.88 on Wednesday. The business’s 50 day moving average is $26.94 and its 200-day moving average is $27.07. The stock has a market cap of $2.09 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 2.47 and a beta of 0.13. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 0.24. Grocery Outlet has a twelve month low of $19.73 and a twelve month high of $36.54.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. The firm had revenue of $989.82 million for the quarter, compared to analysts’ expectations of $982.44 million. On average, analysts predict that Grocery Outlet will post 0.95 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Andrea Renee Bortner sold 5,522 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $25.83, for a total value of $142,633.26. Following the completion of the sale, the insider now directly owns 43,786 shares in the company, valued at approximately $1,130,992.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Grocery Outlet news, EVP Pamela B. Burke sold 4,419 shares of Grocery Outlet stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $26.33, for a total value of $116,352.27. Following the completion of the sale, the executive vice president now owns 77,836 shares in the company, valued at approximately $2,049,421.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrea Renee Bortner sold 5,522 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $25.83, for a total transaction of $142,633.26. Following the transaction, the insider now owns 43,786 shares in the company, valued at approximately $1,130,992.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 506,588 shares of company stock worth $13,367,577. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. WCM Investment Management LLC increased its holdings in Grocery Outlet by 4.8% in the 4th quarter. WCM Investment Management LLC now owns 946,674 shares of the company’s stock worth $25,532,000 after purchasing an additional 43,352 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Grocery Outlet by 1,410.7% during the 3rd quarter. Hsbc Holdings PLC now owns 138,349 shares of the company’s stock worth $3,983,000 after acquiring an additional 129,191 shares during the last quarter. Mackenzie Financial Corp increased its position in Grocery Outlet by 4.6% in the 4th quarter. Mackenzie Financial Corp now owns 4,926,336 shares of the company’s stock valued at $132,814,000 after acquiring an additional 216,257 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Grocery Outlet by 6.8% during the third quarter. State of Michigan Retirement System now owns 23,580 shares of the company’s stock worth $680,000 after purchasing an additional 1,500 shares during the period. Finally, Barclays PLC grew its stake in shares of Grocery Outlet by 88.6% in the third quarter. Barclays PLC now owns 100,361 shares of the company’s stock worth $2,897,000 after purchasing an additional 47,140 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

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.