Grocery Outlet (NASDAQ:GO) Given New $18.00 Price Target at Telsey Advisory Group

Grocery Outlet (NASDAQ:GO) had its target price reduced by Telsey Advisory Group from $19.00 to $18.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a market perform rating on the stock.

A number of other research analysts also recently weighed in on GO. Loop Capital started coverage on Grocery Outlet in a research note on Thursday, October 17th. They set a “hold” rating and a $17.00 price target on the stock. The Goldman Sachs Group dropped their price target on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. Roth Mkm dropped their price target on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company dropped their price target on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, UBS Group decreased their price objective on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.17.

Grocery Outlet Trading Up 3.5 %

GO traded up $0.61 during midday trading on Wednesday, hitting $17.80. 3,080,337 shares of the company were exchanged, compared to its average volume of 2,554,729. The firm has a market capitalization of $1.74 billion, a P/E ratio of 34.90, a P/E/G ratio of 3.92 and a beta of 0.13. The company has a quick ratio of 0.29, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average price is $16.55 and its 200-day moving average price is $19.64. Grocery Outlet has a 1-year low of $13.60 and a 1-year high of $29.98.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 EPS. As a group, equities analysts forecast that Grocery Outlet will post 0.65 EPS for the current fiscal year.

Insider Transactions at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $18.44, for a total transaction of $1,844,000.00. Following the sale, the director now owns 70,938 shares in the company, valued at $1,308,096.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the sale, the director now owns 70,938 shares in the company, valued at $1,155,580.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 500,095 shares of company stock valued at $8,876,548 over the last three months. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GO. Vanguard Group Inc. increased its holdings in Grocery Outlet by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock valued at $268,628,000 after purchasing an additional 60,830 shares during the period. 12 West Capital Management LP boosted its position in Grocery Outlet by 383.3% during the 1st quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock valued at $104,328,000 after acquiring an additional 2,875,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Grocery Outlet by 22.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock valued at $79,933,000 after acquiring an additional 655,065 shares in the last quarter. Capital World Investors boosted its position in Grocery Outlet by 281.4% during the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after acquiring an additional 2,641,016 shares in the last quarter. Finally, Van Berkom & Associates Inc. boosted its position in Grocery Outlet by 21.1% during the 2nd quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company’s stock valued at $77,388,000 after acquiring an additional 609,871 shares in the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

About Grocery Outlet

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.