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

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have received an average recommendation of “Hold” from the ten brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $22.11.

Several equities research analysts recently weighed in on the stock. Telsey Advisory Group cut their price objective on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company assumed coverage on shares of Grocery Outlet in a report on Thursday, July 18th. They set an “overweight” rating and a $28.00 price target on the stock. UBS Group lowered their price target on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Roth Capital raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Melius Research assumed coverage on Grocery Outlet in a report on Monday, September 23rd. They set a “hold” rating and a $17.00 price target on the stock.

Grocery Outlet Stock Up 2.4 %

Grocery Outlet stock opened at $16.58 on Monday. The company has a fifty day simple moving average of $17.95 and a 200 day simple moving average of $21.60. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. Grocery Outlet has a 1-year low of $15.72 and a 1-year high of $29.98. The company has a market cap of $1.66 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 3.12 and a beta of 0.10.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the business posted $0.23 EPS. Grocery Outlet’s revenue was up 11.7% on a year-over-year basis. Research analysts anticipate that Grocery Outlet will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at $1,340,728.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at approximately $1,340,728.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’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 sale, the director now owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 500,095 shares of company stock valued at $8,876,548. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GO. Capital Research Global Investors lifted its position in shares of Grocery Outlet by 2.2% during the 4th quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock valued at $251,871,000 after buying an additional 199,926 shares during the last quarter. Vanguard Group Inc. lifted 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 worth $268,628,000 after purchasing an additional 60,830 shares in the last quarter. 12 West Capital Management LP lifted its holdings 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 worth $104,328,000 after purchasing an additional 2,875,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 worth $79,933,000 after purchasing an additional 655,065 shares in the last quarter. Finally, Capital World Investors lifted its holdings in Grocery Outlet by 281.4% during the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock worth $103,023,000 after purchasing an additional 2,641,016 shares in the last quarter. Institutional investors own 99.87% of the company’s stock.

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.