Grocery Outlet (NASDAQ:GO) Price Target Lowered to $11.00 at The Goldman Sachs Group

Grocery Outlet (NASDAQ:GO) had its price objective lowered by The Goldman Sachs Group from $14.00 to $11.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a sell rating on the stock.

Several other brokerages have also commented on GO. UBS Group decreased their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. TD Cowen cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $25.00 to $16.00 in a research note on Wednesday, November 6th. Roth Mkm dropped their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Bank of America dropped their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Telsey Advisory Group dropped their price target on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a research note on Wednesday. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.25.

Grocery Outlet Stock Performance

GO stock opened at $11.87 on Thursday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 9.08 and a beta of 0.32. The firm has a 50-day simple moving average of $15.95 and a two-hundred day simple moving average of $17.03. Grocery Outlet has a one year low of $10.26 and a one year high of $29.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, CFO Christopher M. Miller acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $11.68 per share, with a total value of $116,800.00. Following the transaction, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $116,800. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

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