Insider Buying: Grocery Outlet Holding Corp. (NASDAQ:GO) CFO Buys 10,000 Shares of Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) CFO Christopher M. Miller acquired 10,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $11.68 per share, with a total value of $116,800.00. Following the completion of the transaction, the chief financial officer now owns 10,000 shares in the company, valued at approximately $116,800. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Grocery Outlet Stock Performance

Shares of GO opened at $11.87 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The stock has a 50 day moving average price of $15.95 and a two-hundred day moving average price of $17.05. The firm has a market capitalization of $1.15 billion, a P/E ratio of 23.27, a P/E/G ratio of 9.08 and a beta of 0.32. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $29.13.

Institutional Trading of Grocery Outlet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in 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 purchasing an additional 722 shares in the last quarter. Decker Retirement Planning Inc. purchased a new position in shares of Grocery Outlet in the 4th quarter worth approximately $31,000. Capital Performance Advisors LLP purchased a new position in shares of Grocery Outlet in the 3rd quarter worth approximately $32,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Grocery Outlet in the 4th quarter worth approximately $41,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Grocery Outlet by 276.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock worth $43,000 after buying an additional 2,036 shares during the last quarter. 99.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GO shares. Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research report on Wednesday. Bank of America lowered their price objective on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday. Wells Fargo & Company decreased their target price on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday. TD Cowen lowered Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group decreased their target price on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Grocery Outlet currently has a consensus rating of “Hold” and a consensus price target of $15.25.

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.