Grocery Outlet Holding Corp. (NASDAQ:GO) Receives $15.58 Average PT from Brokerages

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have received an average recommendation of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat reports. Two 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 on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $15.25.

A number of research analysts recently issued reports on the stock. Bank of America dropped their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company lowered their price objective on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Telsey Advisory Group dropped their target price on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 26th. Roth Mkm cut their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, UBS Group reduced their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th.

Insider Transactions at Grocery Outlet

In related news, Director Kenneth W. Alterman bought 25,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $11.88 per share, for a total transaction of $297,000.00. Following the purchase, the director now directly owns 64,592 shares in the company, valued at $767,352.96. This trade represents a 63.14 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erik D. Ragatz acquired 165,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $12.25 per share, with a total value of $2,021,250.00. Following the purchase, the director now owns 201,500 shares of the company’s stock, valued at $2,468,375. This represents a 452.05 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 200,000 shares of company stock worth $2,435,050 in the last ninety days. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

A number of institutional investors and hedge funds have recently made changes to their positions in GO. Blue Trust Inc. increased its position in shares of Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the last quarter. Decker Retirement Planning Inc. purchased a new stake in shares of Grocery Outlet during the fourth quarter worth about $31,000. Capital Performance Advisors LLP bought a new stake in shares of Grocery Outlet in the 3rd quarter worth approximately $32,000. Aster Capital Management DIFC Ltd bought a new stake in Grocery Outlet in the fourth quarter valued at $41,000. Finally, Quadrant Capital Group LLC increased its position in shares of Grocery Outlet by 276.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock valued at $43,000 after buying an additional 2,036 shares during the period. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Stock Down 4.5 %

Shares of GO opened at $11.33 on Thursday. 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 stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 9.08 and a beta of 0.32. Grocery Outlet has a 52 week low of $10.26 and a 52 week high of $29.13. The stock has a fifty day moving average of $15.86 and a 200-day moving average of $16.97.

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.