Grocery Outlet (NASDAQ:GO) Stock Price Up 5.2% – Here’s What Happened

Grocery Outlet Holding Corp. (NASDAQ:GO) rose 5.2% on Friday . The stock traded as high as $12.04 and last traded at $12.13. Approximately 168,786 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,984,188 shares. The stock had previously closed at $11.53.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Bank of America dropped 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. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a report on Wednesday, February 26th. Morgan Stanley dropped their target price on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, February 26th. Telsey Advisory Group dropped their target price on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group dropped their target price on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Grocery Outlet currently has a consensus rating of “Hold” and an average target price of $15.25.

Grocery Outlet Stock Up 13.6 %

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 company has a market capitalization of $1.28 billion, a PE ratio of 25.69, a P/E/G ratio of 9.08 and a beta of 0.36. The firm has a fifty day simple moving average of $15.55 and a 200-day simple moving average of $16.78.

Insider Activity

In related news, Director Erik D. Ragatz acquired 165,000 shares of Grocery Outlet 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 of the company’s stock, valued at $2,468,375. This trade represents a 452.05 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher M. Miller acquired 10,000 shares of Grocery Outlet stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $11.68 per share, with a total value of $116,800.00. Following the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $116,800. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 200,000 shares of company stock worth $2,435,050. 4.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in Grocery Outlet by 1,224.1% during the 3rd quarter. Barclays PLC now owns 300,393 shares of the company’s stock valued at $5,271,000 after purchasing an additional 277,706 shares during the period. Jane Street Group LLC boosted its position in Grocery Outlet by 357.7% during the 3rd quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock worth $9,118,000 after acquiring an additional 406,039 shares during the period. Choreo LLC acquired a new position in Grocery Outlet during the 4th quarter worth $245,000. Cerity Partners LLC boosted its position in Grocery Outlet by 887.1% during the 3rd quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock worth $1,855,000 after acquiring an additional 94,969 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in Grocery Outlet during the 3rd quarter worth $511,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

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.