Grocery Outlet (NASDAQ:GO) Now Covered by Analysts at Melius Research

Stock analysts at Melius Research assumed coverage on shares of Grocery Outlet (NASDAQ:GO) in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage set a “hold” rating and a $17.00 price target on the stock. Melius Research’s price objective suggests a potential upside of 4.42% from the company’s current price.

Several other analysts have also recently commented on GO. Roth Mkm dropped their target price on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Telsey Advisory Group dropped their target price on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. UBS Group dropped their target price on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Craig Hallum cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price objective for the company from $32.00 to $20.00 in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.11.

Grocery Outlet Price Performance

NASDAQ:GO opened at $16.28 on Monday. The stock’s fifty day moving average price is $18.60 and its two-hundred day moving average price is $22.15. Grocery Outlet has a 52-week low of $15.72 and a 52-week high of $29.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 3.16 and a beta of 0.10.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. On average, analysts anticipate that Grocery Outlet will post 0.68 EPS for the current year.

Insider Buying and Selling

In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,155,580.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 500,095 shares of company stock valued at $8,876,548. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

A number of large investors have recently modified their holdings of GO. Norges Bank acquired a new position in shares of Grocery Outlet during the 4th quarter worth about $24,588,000. Quest Partners LLC acquired a new stake in Grocery Outlet in the 4th quarter valued at about $193,000. Intech Investment Management LLC acquired a new stake in Grocery Outlet in the 4th quarter valued at about $253,000. Treasurer of the State of North Carolina lifted its stake in Grocery Outlet by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 42,093 shares of the company’s stock valued at $1,135,000 after purchasing an additional 410 shares during the last quarter. Finally, Capstone Investment Advisors LLC lifted its stake in Grocery Outlet by 20.3% in the 4th quarter. Capstone Investment Advisors LLC now owns 35,692 shares of the company’s stock valued at $962,000 after purchasing an additional 6,022 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Grocery Outlet Company Profile

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.