Grocery Outlet (NASDAQ:GO) Coverage Initiated by Analysts at Loop Capital

Investment analysts at Loop Capital started coverage on shares of Grocery Outlet (NASDAQ:GO) in a report issued on Thursday, Benzinga reports. The brokerage set a “hold” rating and a $17.00 price target on the stock. Loop Capital’s target price points to a potential upside of 0.77% from the company’s current price.

Several other research firms have also recently weighed in on GO. Craig Hallum cut Grocery Outlet from a “buy” rating to a “hold” rating and lowered their target price for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. UBS Group dropped their price objective on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note 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. Melius Research began coverage on shares of Grocery Outlet in a report on Monday, September 23rd. They set a “hold” rating and a $17.00 price target on the stock. Finally, Telsey Advisory Group cut their price objective on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.60.

Grocery Outlet Trading Up 2.6 %

Shares of GO stock opened at $16.87 on Thursday. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The stock has a 50-day simple moving average of $17.42 and a 200 day simple moving average of $20.88. Grocery Outlet has a fifty-two week low of $15.18 and a fifty-two week high of $29.98. The stock has a market capitalization of $1.68 billion, a P/E ratio of 26.36, a P/E/G ratio of 3.10 and a beta of 0.10.

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

Insider Activity at Grocery Outlet

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 sale, the director now owns 70,938 shares in the company, valued at $1,340,728.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the completion of the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,340,728.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $3,259,547.55. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 500,095 shares of company stock worth $8,876,548 in the last ninety days. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Large investors have recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC lifted its holdings in Grocery Outlet by 161.1% during the 1st quarter. Capstone Investment Advisors LLC now owns 93,188 shares of the company’s stock worth $2,682,000 after purchasing an additional 57,496 shares during the last quarter. Capital World Investors boosted its position in shares of Grocery Outlet by 281.4% in the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after acquiring an additional 2,641,016 shares during the period. Millennium Management LLC grew its position in shares of Grocery Outlet by 677.6% during the 2nd quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock worth $43,832,000 after purchasing an additional 1,726,741 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Grocery Outlet by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 9,273,020 shares of the company’s stock worth $250,001,000 after purchasing an additional 101,056 shares during the period. Finally, Bleakley Financial Group LLC acquired a new stake in shares of Grocery Outlet in the first quarter valued at approximately $217,000. 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.