Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz Buys 165,000 Shares

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz purchased 165,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $12.25 per share, for a total transaction of $2,021,250.00. Following the purchase, the director now owns 201,500 shares in the company, valued at approximately $2,468,375. The trade was a 452.05 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Grocery Outlet Trading Down 4.5 %

GO opened at $11.33 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 9.08 and a beta of 0.32. The business has a fifty day moving average price of $15.86 and a 200 day moving average price of $16.97. Grocery Outlet Holding Corp. has a 12 month low of $10.26 and a 12 month high of $29.13.

Analysts Set New Price Targets

GO has been the topic of a number of recent analyst reports. Craig Hallum decreased their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Roth Mkm decreased their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a report on Wednesday, February 26th. Telsey Advisory Group decreased their price target on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 26th. Finally, UBS Group dropped their price objective on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.25.

Hedge Funds Weigh In On Grocery Outlet

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares in the last quarter. Decker Retirement Planning Inc. purchased a new stake in shares of Grocery Outlet in the 4th quarter valued at approximately $31,000. Capital Performance Advisors LLP acquired a new stake in shares of Grocery Outlet in the 3rd quarter valued at $32,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Grocery Outlet during the 4th quarter worth $41,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Grocery Outlet by 276.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock worth $43,000 after purchasing an additional 2,036 shares in the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

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.