The Goldman Sachs Group Issues Pessimistic Forecast for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO) had its price objective reduced by The Goldman Sachs Group from $14.00 to $11.00 in a research note published on Thursday morning,Benzinga reports. They currently have a sell rating on the stock.

Several other research firms have also recently weighed in on GO. UBS Group decreased their target price on 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 reduced their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley dropped their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.25.

Grocery Outlet Stock Up 7.6 %

Grocery Outlet stock opened at $11.83 on Thursday. The stock has a market cap of $1.15 billion, a PE ratio of 23.20, a P/E/G ratio of 9.08 and a beta of 0.32. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The stock’s fifty day moving average is $16.05 and its two-hundred day moving average is $17.10. Grocery Outlet has a 1-year low of $10.26 and a 1-year high of $29.19.

Insider Buying and Selling at Grocery Outlet

In other news, CFO Christopher M. Miller acquired 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $116,800. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GO. Barclays PLC lifted its holdings in Grocery Outlet by 1,224.1% in the third quarter. Barclays PLC now owns 300,393 shares of the company’s stock valued at $5,271,000 after acquiring an additional 277,706 shares during the period. 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 in the last quarter. Choreo LLC acquired a new position in Grocery Outlet during the fourth quarter worth about $245,000. Cerity Partners LLC increased its holdings in Grocery Outlet by 887.1% in the third quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock valued at $1,855,000 after buying an additional 94,969 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Grocery Outlet during the 3rd quarter valued at approximately $511,000. 99.87% of the stock is currently 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.