Grocery Outlet Holding Corp. (NASDAQ:GO) Receives Average Recommendation of “Hold” from Analysts

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

Several brokerages recently commented on GO. 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 report on Wednesday, February 26th. Wells Fargo & Company dropped 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. Telsey Advisory Group cut their price objective on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research report on Wednesday, February 26th. Bank of America lowered their target price on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a report on Wednesday, February 26th.

Insider Activity at Grocery Outlet

In other news, Director Erik D. Ragatz acquired 165,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $12.25 per share, for a total transaction of $2,021,250.00. Following the transaction, the director now directly owns 201,500 shares in the company, valued at approximately $2,468,375. This represents a 452.05 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Christopher M. Miller bought 10,000 shares of Grocery Outlet stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $116,800. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Grocery Outlet

Several hedge funds have recently bought and sold shares of the stock. Decker Retirement Planning Inc. bought a new stake in Grocery Outlet in the 4th quarter valued at approximately $31,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Grocery Outlet in the fourth quarter worth $41,000. Quadrant Capital Group LLC boosted its holdings in Grocery Outlet by 276.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock worth $43,000 after purchasing an additional 2,036 shares during the last quarter. KBC Group NV grew its position in Grocery Outlet by 62.7% in the fourth quarter. KBC Group NV now owns 4,506 shares of the company’s stock valued at $70,000 after purchasing an additional 1,736 shares in the last quarter. Finally, True Wealth Design LLC acquired a new stake in Grocery Outlet in the 3rd quarter valued at $75,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Grocery Outlet Stock Performance

Shares of NASDAQ GO opened at $13.25 on Monday. The business’s 50-day simple moving average is $14.55 and its 200-day simple moving average is $16.23. Grocery Outlet has a 52 week low of $10.26 and a 52 week high of $28.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 9.08 and a beta of 0.36.

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.