Grocery Outlet Holding Corp. (NASDAQ:GO) Receives Average Rating of “Hold” from Brokerages

Grocery Outlet Holding Corp. (NASDAQ:GO) has earned a consensus rating of “Hold” from the ten analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $28.90.

A number of brokerages recently commented on GO. Roth Mkm dropped their price target on Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. UBS Group dropped their price target on Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Telsey Advisory Group dropped their price target on Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. The Goldman Sachs Group dropped their price target on Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, May 9th. Finally, TD Cowen dropped their price target on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, May 10th.

Grocery Outlet Stock Up 0.1 %

Shares of NASDAQ:GO opened at $22.12 on Friday. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 4.11 and a beta of 0.09. The company has a quick ratio of 0.30, a current ratio of 1.25 and a debt-to-equity ratio of 0.23. Grocery Outlet has a 12-month low of $19.73 and a 12-month high of $36.54. The business’s 50 day moving average is $22.64 and its 200 day moving average is $25.29.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.10). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. On average, sell-side analysts forecast that Grocery Outlet will post 0.69 earnings per share for the current fiscal year.

Insider Activity at Grocery Outlet

In related news, Director Erik D. Ragatz acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were bought at an average cost of $20.91 per share, for a total transaction of $2,091,000.00. Following the purchase, the director now owns 429,785 shares in the company, valued at approximately $8,986,804.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Erik D. Ragatz acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were bought at an average cost of $20.91 per share, for a total transaction of $2,091,000.00. Following the purchase, the director now owns 429,785 shares in the company, valued at approximately $8,986,804.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Luke D. Thompson sold 1,332 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $22.43, for a total value of $29,876.76. Following the transaction, the executive vice president now owns 32,306 shares of the company’s stock, valued at $724,623.58. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Grocery Outlet

A number of institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors increased its position in shares of Grocery Outlet by 2.2% during the 4th quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock valued at $251,871,000 after purchasing an additional 199,926 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Grocery Outlet by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock valued at $268,628,000 after purchasing an additional 60,830 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Grocery Outlet by 4.6% during the 4th quarter. Mackenzie Financial Corp now owns 4,926,336 shares of the company’s stock valued at $132,814,000 after purchasing an additional 216,257 shares during the last quarter. 12 West Capital Management LP increased its position in shares of Grocery Outlet by 383.3% during the 1st quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock valued at $104,328,000 after purchasing an additional 2,875,000 shares during the last quarter. Finally, Capital World Investors increased its position in shares of Grocery Outlet by 281.4% during the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after purchasing an additional 2,641,016 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors.

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.