Grocery Outlet (NASDAQ:GO) Price Target Lowered to $18.00 at Wells Fargo & Company

Grocery Outlet (NASDAQ:GO) had its target price reduced by Wells Fargo & Company from $23.00 to $18.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 14.36% from the company’s previous close.

GO has been the subject of several other research reports. TD Cowen lowered Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price objective for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. Roth Mkm dropped their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Craig Hallum decreased their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a report on Wednesday. Finally, Bank of America cut their price target on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.09.

Grocery Outlet Stock Down 0.4 %

GO stock opened at $15.74 on Wednesday. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32. 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 business’s 50 day moving average price is $16.26 and its two-hundred day moving average price is $17.18. Grocery Outlet has a fifty-two week low of $13.60 and a fifty-two week high of $29.19.

Institutional Investors Weigh In On Grocery Outlet

Several large investors have recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of Grocery Outlet by 1,224.1% in the 3rd quarter. Barclays PLC now owns 300,393 shares of the company’s stock worth $5,271,000 after buying an additional 277,706 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Grocery Outlet by 357.7% in the third quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock worth $9,118,000 after buying an additional 406,039 shares during the last quarter. Choreo LLC bought a new stake in Grocery Outlet during the fourth quarter valued at approximately $245,000. Cerity Partners LLC increased its holdings in Grocery Outlet by 887.1% during the third quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock valued at $1,855,000 after buying an additional 94,969 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Grocery Outlet in the third quarter worth approximately $511,000. 99.87% of the stock is currently owned by institutional investors.

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.