Grocery Outlet Holding Corp. (NASDAQ:GO) SVP Lindsay E. Gray Sells 1,856 Shares

Grocery Outlet Holding Corp. (NASDAQ:GO) SVP Lindsay E. Gray sold 1,856 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $13.16, for a total value of $24,424.96. Following the completion of the sale, the senior vice president now owns 39,592 shares in the company, valued at $521,030.72. This trade represents a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Grocery Outlet Trading Up 1.4 %

Shares of GO opened at $12.43 on Friday. Grocery Outlet Holding Corp. has a 12-month low of $10.26 and a 12-month high of $29.13. The stock’s fifty day simple moving average is $15.32 and its 200-day simple moving average is $16.65. 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 firm has a market capitalization of $1.21 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 9.08 and a beta of 0.36.

Hedge Funds Weigh In On Grocery Outlet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in Grocery Outlet by 1,224.1% during the third quarter. Barclays PLC now owns 300,393 shares of the company’s stock worth $5,271,000 after buying an additional 277,706 shares during the last quarter. Jane Street Group LLC boosted its holdings in Grocery Outlet by 357.7% during the third quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock worth $9,118,000 after buying an additional 406,039 shares during the last quarter. Choreo LLC bought a new position in Grocery Outlet during the fourth quarter worth about $245,000. Cerity Partners LLC boosted its holdings in Grocery Outlet by 887.1% during the third quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock worth $1,855,000 after buying an additional 94,969 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Grocery Outlet during the third quarter worth about $511,000. Institutional investors own 99.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley lowered their price target on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered their price target on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. Bank of America reduced their price objective on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Telsey Advisory Group reduced their price objective on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their price objective on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average 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.