Insider Selling: Grocery Outlet Holding Corp. (NASDAQ:GO) Director Sells 100,000 Shares of Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $18.44, for a total value of $1,844,000.00. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,308,096.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Grocery Outlet Stock Down 3.0 %

NASDAQ:GO traded down $0.54 during trading hours on Thursday, reaching $17.71. The company’s stock had a trading volume of 2,250,449 shares, compared to its average volume of 1,746,477. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 3.55 and a beta of 0.09. The business’s 50-day moving average is $20.47 and its 200-day moving average is $23.54. Grocery Outlet Holding Corp. has a one year low of $17.66 and a one year high of $32.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.25 and a quick ratio of 0.30.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. Grocery Outlet had a return on equity of 5.46% and a net margin of 1.60%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the company earned $0.23 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts predict that Grocery Outlet Holding Corp. will post 0.69 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System bought a new position in shares of Grocery Outlet in the fourth quarter worth about $752,000. State of New Jersey Common Pension Fund D grew its holdings in Grocery Outlet by 10.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 88,710 shares of the company’s stock valued at $2,392,000 after buying an additional 8,353 shares during the last quarter. Headlands Technologies LLC lifted its holdings in shares of Grocery Outlet by 32,200.0% during the fourth quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock worth $131,000 after buying an additional 4,830 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Grocery Outlet by 0.8% in the fourth quarter. Retirement Systems of Alabama now owns 124,329 shares of the company’s stock valued at $3,352,000 after acquiring an additional 994 shares during the period. Finally, Natixis Advisors L.P. acquired a new stake in shares of Grocery Outlet in the fourth quarter worth $291,000. Institutional investors own 99.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. TD Cowen decreased their price objective on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, May 10th. The Goldman Sachs Group decreased their price target on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, May 9th. Wells Fargo & Company began coverage on shares of Grocery Outlet in a research note on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price objective on the stock. Telsey Advisory Group decreased 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 note on Wednesday, August 7th. Finally, Roth Mkm lowered their price target on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.75.

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.