Grocery Outlet (NASDAQ:GO) Stock Price Down 4.6% – Time to Sell?

Grocery Outlet Holding Corp. (NASDAQ:GO)’s share price traded down 4.6% during mid-day trading on Wednesday . The stock traded as low as $15.18 and last traded at $15.22. 984,858 shares traded hands during trading, a decline of 37% from the average session volume of 1,555,644 shares. The stock had previously closed at $15.95.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GO. Wells Fargo & Company reduced their target price on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Bank of America cut shares of Grocery Outlet from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $29.00 to $17.00 in a research note on Wednesday, October 30th. UBS Group cut their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Roth Mkm decreased their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $18.00 price objective on shares of Grocery Outlet in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.00.

Grocery Outlet Trading Up 8.0 %

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 cap of $1.59 billion, a P/E ratio of 32.00, a P/E/G ratio of 16.14 and a beta of 0.31. The business has a 50-day moving average price of $17.52 and a two-hundred day moving average price of $17.82.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. On average, analysts predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Insider Buying and Selling at Grocery Outlet

In related news, Director Erik D. Ragatz acquired 110,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the purchase, the director now directly owns 539,785 shares in the company, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in shares of Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after buying an additional 722 shares in the last quarter. Decker Retirement Planning Inc. acquired a new position in Grocery Outlet in the fourth quarter valued at about $31,000. Capital Performance Advisors LLP bought a new stake in shares of Grocery Outlet in the third quarter worth about $32,000. KBC Group NV raised its position in shares of Grocery Outlet by 62.7% during the fourth quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after purchasing an additional 1,736 shares during the period. Finally, True Wealth Design LLC acquired a new stake in shares of Grocery Outlet during the third quarter worth about $75,000. Institutional investors own 99.87% of the company’s stock.

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.