Grocery Outlet (NASDAQ:GO) Given New $11.00 Price Target at The Goldman Sachs Group

Grocery Outlet (NASDAQ:GO) had its target price decreased by The Goldman Sachs Group from $14.00 to $11.00 in a report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Craig Hallum lowered their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock 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 price target on the stock. in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday. Morgan Stanley dropped their price target on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday. Finally, UBS Group reduced their price objective on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.25.

Grocery Outlet Price Performance

Shares of Grocery Outlet stock opened at $11.83 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The business has a 50 day simple moving average of $16.05 and a two-hundred day simple moving average of $17.10. The stock has a market capitalization of $1.15 billion, a P/E ratio of 23.20, a PEG ratio of 9.08 and a beta of 0.32. Grocery Outlet has a 12 month low of $10.26 and a 12 month high of $29.19.

Insider Buying and Selling at Grocery Outlet

In other news, CFO Christopher M. Miller acquired 10,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $11.68 per share, with a total value of $116,800.00. Following the completion of the purchase, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $116,800. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Grocery Outlet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Simcoe Capital Management LLC purchased a new position in Grocery Outlet in the 4th quarter valued at approximately $53,185,000. Junto Capital Management LP acquired a new stake in shares of Grocery Outlet in the fourth quarter valued at $39,128,000. Freestone Grove Partners LP purchased a new position in Grocery Outlet in the fourth quarter valued at $13,602,000. FPR Partners LLC grew its stake in Grocery Outlet by 15.2% during the 4th quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock worth $93,527,000 after purchasing an additional 791,474 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Grocery Outlet by 159.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company’s stock worth $21,676,000 after purchasing an additional 759,697 shares in the last quarter. 99.87% of the stock is currently owned by hedge funds and other 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.