Insider Selling: Grocery Outlet Holding Corp. (NASDAQ:GO) EVP Sells 1,332 Shares of Stock

Grocery Outlet Holding Corp. (NASDAQ:GOGet Free Report) EVP Luke D. Thompson sold 1,332 shares of Grocery Outlet stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total value of $29,876.76. Following the completion of the transaction, the executive vice president now owns 32,306 shares of the company’s stock, valued at $724,623.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Grocery Outlet Stock Performance

GO opened at $22.83 on Thursday. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 4.06 and a beta of 0.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.25 and a quick ratio of 0.30. Grocery Outlet Holding Corp. has a 1-year low of $19.73 and a 1-year high of $36.54. The business has a 50 day moving average price of $25.87 and a two-hundred day moving average price of $26.60.

Grocery Outlet (NASDAQ:GOGet Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $989.82 million for the quarter, compared to analysts’ expectations of $982.44 million. Grocery Outlet had a return on equity of 5.46% and a net margin of 1.60%. Research analysts predict that Grocery Outlet Holding Corp. will post 0.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GO shares. Telsey Advisory Group decreased their target price on Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. TD Cowen decreased their target price on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, May 10th. The Goldman Sachs Group decreased their target price on Grocery Outlet from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, May 9th. UBS Group decreased their target price on Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Finally, Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $28.90.

View Our Latest Stock Report on Grocery Outlet

Hedge Funds Weigh In On Grocery Outlet

Several institutional investors and hedge funds have recently modified their holdings of GO. Allspring Global Investments Holdings LLC bought a new stake in Grocery Outlet in the first quarter worth $25,000. Acadian Asset Management LLC bought a new stake in Grocery Outlet in the third quarter worth $113,000. Daiwa Securities Group Inc. bought a new stake in Grocery Outlet in the first quarter worth $127,000. Headlands Technologies LLC boosted its holdings in Grocery Outlet by 32,200.0% in the fourth quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock worth $131,000 after purchasing an additional 4,830 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Grocery Outlet in the fourth quarter worth $193,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Grocery Outlet Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Grocery Outlet (NASDAQ:GO)

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