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

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have been given a consensus rating of “Hold” by the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $15.25.

Several equities analysts have recently commented on GO shares. Wells Fargo & Company lowered their price objective on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Wednesday, February 26th. Telsey Advisory Group decreased their target price on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley cut their price target on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, February 26th. Finally, Bank of America cut their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th.

Insider Activity

In related news, SVP Lindsay E. Gray sold 2,741 shares of Grocery Outlet stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total transaction of $31,082.94. Following the transaction, the senior vice president now owns 41,448 shares in the company, valued at approximately $470,020.32. The trade was a 6.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher M. Miller purchased 10,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the purchase, the chief financial officer now owns 10,000 shares in the company, valued at approximately $116,800. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. Insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Large investors have recently made changes to their positions in the business. Decker Retirement Planning Inc. bought a new position in Grocery Outlet during the 4th quarter valued at about $31,000. Aster Capital Management DIFC Ltd bought a new position in Grocery Outlet in the 4th quarter worth about $41,000. Quadrant Capital Group LLC grew its stake in Grocery Outlet by 276.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock worth $43,000 after acquiring an additional 2,036 shares in the last quarter. True Wealth Design LLC bought a new position in Grocery Outlet in the 3rd quarter worth about $75,000. Finally, KBC Group NV grew its stake in Grocery Outlet by 62.7% in the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after acquiring an additional 1,736 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Stock Performance

NASDAQ GO opened at $12.68 on Monday. The company has a 50-day simple moving average of $14.89 and a two-hundred day simple moving average of $16.37. 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 12-month low of $10.26 and a 12-month high of $29.13. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 9.08 and a beta of 0.36.

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.