UBS Group Cuts Grocery Outlet (NASDAQ:GO) Price Target to $16.00

Grocery Outlet (NASDAQ:GO) had its target price reduced by stock analysts at UBS Group from $21.00 to $16.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price points to a potential downside of 1.54% from the company’s current price.

GO has been the topic of a number of other reports. Melius Research began coverage on Grocery Outlet in a research note on Monday, September 23rd. They set a “hold” rating and a $17.00 price target on the stock. TD Cowen cut Grocery Outlet from a “buy” rating to a “hold” rating and decreased their price target for the stock from $25.00 to $16.00 in a research note on Wednesday. Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Bank of America cut Grocery Outlet from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, October 30th. Finally, Craig Hallum reduced their price objective on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Grocery Outlet presently has a consensus rating of “Hold” and an average target price of $18.17.

Grocery Outlet Trading Up 11.6 %

Grocery Outlet stock traded up $1.69 during mid-day trading on Wednesday, hitting $16.25. The company’s stock had a trading volume of 2,540,391 shares, compared to its average volume of 1,806,745. The firm has a market capitalization of $1.59 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 3.57 and a beta of 0.13. Grocery Outlet has a 1 year low of $13.60 and a 1 year high of $29.98. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average is $16.74 and its two-hundred day moving average is $19.84.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, analysts anticipate that Grocery Outlet will post 0.66 EPS for the current year.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 500,095 shares of company stock valued at $8,876,548. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of 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 during the last quarter. 12 West Capital Management LP raised its position in shares of 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 during the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 during the last quarter. Capital World Investors raised its position in shares of 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 during the last quarter. Finally, Van Berkom & Associates Inc. raised its position in shares of Grocery Outlet by 21.1% during the 2nd quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company’s stock worth $77,388,000 after purchasing an additional 609,871 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

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.