Grocery Outlet Holding Corp. (NASDAQ:GO) Receives $15.25 Consensus Target Price from Brokerages

Grocery Outlet Holding Corp. (NASDAQ:GO) has been assigned an average recommendation of “Hold” from the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $15.25.

Several brokerages have issued reports on GO. Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research note on Wednesday, February 26th. Morgan Stanley dropped their price objective on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, February 26th. Telsey Advisory Group reduced their target price 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. 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, February 27th. Finally, Bank of America cut their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th.

Insider Transactions at Grocery Outlet

In other news, SVP Lindsay E. Gray sold 2,741 shares of Grocery Outlet stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total value of $31,082.94. Following the transaction, the senior vice president now owns 41,448 shares of the company’s stock, valued at $470,020.32. The trade was a 6.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher M. Miller bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $11.68 per share, with a total value of $116,800.00. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $116,800. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 200,000 shares of company stock valued at $2,435,050 and sold 17,756 shares valued at $216,892. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

Several institutional investors and hedge funds have recently bought and sold shares of GO. Barclays PLC grew its stake in Grocery Outlet by 1,224.1% during the 3rd 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 raised its position in shares of Grocery Outlet by 357.7% in the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock valued at $9,118,000 after purchasing an additional 406,039 shares during the last quarter. Choreo LLC acquired a new stake in Grocery Outlet in the 4th quarter worth approximately $245,000. Cerity Partners LLC grew its position in Grocery Outlet by 887.1% during the 3rd quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock worth $1,855,000 after purchasing an additional 94,969 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Grocery Outlet during the 3rd quarter worth approximately $511,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Trading Up 2.2 %

Shares of GO opened at $13.25 on Monday. Grocery Outlet has a twelve month low of $10.26 and a twelve month high of $28.98. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $14.55 and its 200-day simple moving average is $16.23. The company has a market cap of $1.29 billion, a P/E ratio of 25.98, a P/E/G ratio of 9.08 and a beta of 0.36.

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.