Grocery Outlet Holding Corp. (NASDAQ:GO) Given Consensus Recommendation of “Hold” by Analysts

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have been assigned an average recommendation of “Hold” from the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $15.25.

Several equities analysts have weighed in on GO shares. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research report on Wednesday, February 26th. Telsey Advisory Group dropped their price objective on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group reduced their target price on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a report on Thursday, February 27th. Bank of America lowered their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley reduced their price objective on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 26th.

Grocery Outlet Trading Up 2.2 %

Shares of GO stock opened at $13.25 on Monday. The stock has a market cap of $1.29 billion, a P/E ratio of 25.98, a P/E/G ratio of 9.08 and a beta of 0.36. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. Grocery Outlet has a fifty-two week low of $10.26 and a fifty-two week high of $28.98. The business has a fifty day simple moving average of $14.55 and a 200-day simple moving average of $16.23.

Insider Buying and Selling

In related news, CFO Christopher M. Miller purchased 10,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $11.68 per share, with a total value of $116,800.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $116,800. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Erik D. Ragatz bought 165,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $12.25 per share, for a total transaction of $2,021,250.00. Following the completion of the transaction, the director now directly owns 201,500 shares of the company’s stock, valued at $2,468,375. This trade represents a 452.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 200,000 shares of company stock valued at $2,435,050 and sold 17,756 shares valued at $216,892. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Hedge funds have recently modified their holdings of the business. Barclays PLC grew its holdings in shares of Grocery Outlet by 1,224.1% during the 3rd quarter. Barclays PLC now owns 300,393 shares of the company’s stock valued at $5,271,000 after acquiring an additional 277,706 shares in the last quarter. Jane Street Group LLC grew its stake in Grocery Outlet by 357.7% in the third quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock valued at $9,118,000 after purchasing an additional 406,039 shares in the last quarter. Choreo LLC acquired a new position in Grocery Outlet in the 4th quarter worth about $245,000. Cerity Partners LLC raised its stake in shares of Grocery Outlet by 887.1% during the 3rd quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock worth $1,855,000 after purchasing an additional 94,969 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Grocery Outlet during the 3rd quarter valued at about $511,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

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.