Grocery Outlet (NASDAQ:GO) Stock Price Down 4.7% – What’s Next?

Grocery Outlet Holding Corp. (NASDAQ:GO) traded down 4.7% during trading on Monday . The stock traded as low as $18.14 and last traded at $18.22. 287,798 shares were traded during trading, a decline of 84% from the average session volume of 1,829,310 shares. The stock had previously closed at $19.11.

Analysts Set New Price Targets

A number of brokerages have commented on GO. TD Cowen lowered Grocery Outlet from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $25.00 to $16.00 in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased their price target on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Wells Fargo & Company dropped their price objective on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Melius Research initiated coverage on shares of Grocery Outlet in a report on Monday, September 23rd. They set a “hold” rating and a $17.00 price objective on the stock. Finally, Loop Capital began coverage on shares of Grocery Outlet in a report on Thursday, October 17th. They issued a “hold” rating and a $17.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Grocery Outlet currently has an average rating of “Hold” and an average price target of $18.00.

Grocery Outlet Price Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The stock has a market capitalization of $1.61 billion, a PE ratio of 32.43, a price-to-earnings-growth ratio of 4.74 and a beta of 0.25. The business’s 50-day moving average price is $17.84 and its 200 day moving average price is $18.77.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. Grocery Outlet’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz bought 110,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the transaction, the director now directly owns 539,785 shares in the company, valued at $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The trade was a 73.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Grocery Outlet during the third quarter valued at approximately $32,000. Innealta Capital LLC bought a new position in shares of Grocery Outlet during the second quarter valued at approximately $38,000. True Wealth Design LLC purchased a new stake in Grocery Outlet in the third quarter worth $75,000. Finally, Canada Pension Plan Investment Board bought a new stake in Grocery Outlet in the second quarter valued at $82,000. 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.