Grocery Outlet (NASDAQ:GO) Rating Lowered to “Hold” at TD Cowen

TD Cowen cut shares of Grocery Outlet (NASDAQ:GO) from a buy rating to a hold rating in a research note published on Wednesday, Marketbeat reports. TD Cowen currently has $16.00 price objective on the stock, down from their previous price objective of $25.00.

Several other equities analysts have also issued reports on GO. UBS Group cut their price target on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. The Goldman Sachs Group cut their target price on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company cut their target price on Grocery Outlet from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Bank of America downgraded Grocery Outlet from a “buy” rating to a “neutral” rating and cut their target price for the company from $29.00 to $17.00 in a research report on Wednesday, October 30th. Finally, Loop Capital began coverage on Grocery Outlet in a research report on Thursday, October 17th. They issued a “hold” rating and a $17.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Grocery Outlet currently has a consensus rating of “Hold” and an average price target of $18.17.

Grocery Outlet Trading Up 3.4 %

Shares of Grocery Outlet stock traded up $0.55 on Wednesday, hitting $16.66. 122,833 shares of the company traded hands, compared to its average volume of 1,812,992. The stock’s 50 day moving average price is $16.66 and its 200-day moving average price is $19.75. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. Grocery Outlet has a 52 week low of $13.60 and a 52 week high of $29.98. The company has a market cap of $1.63 billion, a PE ratio of 31.59, a PEG ratio of 3.42 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. Equities research analysts predict that Grocery Outlet will post 0.66 EPS for the current year.

Insider Buying and Selling at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction dated 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 sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 500,095 shares of company stock valued at $8,876,548. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans lifted its stake in Grocery Outlet by 5.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 209,531 shares of the company’s stock valued at $3,677,000 after buying an additional 11,615 shares in the last quarter. Angeles Investment Advisors LLC lifted its stake in Grocery Outlet by 18.5% in the 3rd quarter. Angeles Investment Advisors LLC now owns 21,535 shares of the company’s stock valued at $378,000 after buying an additional 3,355 shares in the last quarter. Geneva Capital Management LLC lifted its stake in Grocery Outlet by 0.9% in the 3rd quarter. Geneva Capital Management LLC now owns 1,575,495 shares of the company’s stock valued at $27,650,000 after buying an additional 13,561 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Grocery Outlet by 23.2% in the 3rd quarter. Victory Capital Management Inc. now owns 915,119 shares of the company’s stock valued at $16,060,000 after buying an additional 172,050 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Grocery Outlet in the 3rd quarter valued at about $2,507,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

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.