Grocery Outlet (NASDAQ:GO) Insider Paul Blaine Miller Buys 8,000 Shares of Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) insider Paul Blaine Miller acquired 8,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average cost of $10.90 per share, for a total transaction of $87,200.00. Following the purchase, the insider directly owned 72,171 shares of the company’s stock, valued at $786,663.90. This represents a 12.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Paul Blaine Miller also recently made the following trade(s):

• On Thursday, June 25th, Paul Blaine Miller bought 5,000 shares of Grocery Outlet stock. The shares were acquired at an average cost of $9.50 per share, with a total value of $47,500.00.
• On Thursday, June 18th, Paul Blaine Miller bought 10,000 shares of Grocery Outlet stock. The shares were acquired at an average cost of $9.37 per share, with a total value of $93,700.00.

Grocery Outlet Price Performance

GO stock opened at $11.60 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.30 and a current ratio of 1.29. The firm has a 50 day moving average price of $9.90 and a 200-day moving average price of $8.71. Grocery Outlet Holding Corp. has a 52-week low of $5.66 and a 52-week high of $19.23. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -3.00, a PEG ratio of 8.56 and a beta of 0.65.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. Grocery Outlet had a positive return on equity of 5.84% and a negative net margin of 8.04%.The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business posted $0.23 EPS. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts forecast that Grocery Outlet Holding Corp. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Telsey Advisory Group restated a “market perform” rating on shares of Grocery Outlet in a report on Thursday, August 13th. Weiss Ratings upgraded shares of Grocery Outlet from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 13th. Morgan Stanley increased their price objective on shares of Grocery Outlet from $7.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. UBS Group increased their price objective on shares of Grocery Outlet from $10.00 to $11.50 and gave the company a “neutral” rating in a research report on Monday. Finally, Wells Fargo & Company raised their price objective on shares of Grocery Outlet from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Twelve research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $10.59.

Institutional Trading of Grocery Outlet

A number of large investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd lifted its position in Grocery Outlet by 1,030.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,532 shares of the company’s stock valued at $26,000 after purchasing an additional 2,308 shares during the period. Kestra Advisory Services LLC purchased a new stake in Grocery Outlet in the fourth quarter worth approximately $35,000. Allworth Financial LP bought a new stake in Grocery Outlet in the 2nd quarter worth approximately $40,000. Quantbot Technologies LP bought a new stake in Grocery Outlet in the 2nd quarter worth approximately $46,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Grocery Outlet during the 2nd quarter valued at $58,000. 99.87% of the stock is currently owned by institutional investors.

About Grocery Outlet

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.