Grocery Outlet (NASDAQ:GO) Shares Down 4.9% – What’s Next?

Grocery Outlet Holding Corp. (NASDAQ:GO)’s stock price fell 4.9% during mid-day trading on Monday . The stock traded as low as $15.85 and last traded at $15.91. 294,305 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,829,454 shares. The stock had previously closed at $16.73.

Wall Street Analyst Weigh In

Several research firms have commented on GO. Bank of America lowered Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $29.00 to $17.00 in a research report on Wednesday, October 30th. UBS Group dropped their price target on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Melius Research assumed coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price objective for the company. The Goldman Sachs Group cut their price target on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Finally, Wells Fargo & Company decreased their target price on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.00.

Grocery Outlet Stock Up 0.3 %

The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1.53 billion, a PE ratio of 30.90, a price-to-earnings-growth ratio of 4.74 and a beta of 0.25. The firm has a 50-day moving average of $17.86 and a two-hundred day moving average of $18.61.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. Equities research analysts predict that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz bought 110,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the purchase, the director now directly owns 539,785 shares in the company, valued at approximately $9,851,076.25. This represents a 25.59 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. Innealta Capital LLC purchased a new stake in Grocery Outlet in the second quarter valued at $38,000. Capital Performance Advisors LLP acquired a new position in Grocery Outlet in the third quarter valued at $32,000. Canada Pension Plan Investment Board acquired a new position in Grocery Outlet in the second quarter valued at $82,000. Finally, True Wealth Design LLC purchased a new position in shares of Grocery Outlet during the third quarter worth about $75,000. 99.87% of the stock is 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.