Grocery Outlet (NASDAQ:GO) Trading Down 6.5% Following Insider Selling

Grocery Outlet Holding Corp. (NASDAQ:GO) shares dropped 6.5% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $12.09 and last traded at $12.05. Approximately 303,531 shares were traded during trading, a decline of 85% from the average daily volume of 2,022,198 shares. The stock had previously closed at $12.88.

Specifically, EVP Steven K. Wilson sold 6,682 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $13.16, for a total value of $87,935.12. Following the completion of the transaction, the executive vice president now directly owns 166,923 shares in the company, valued at $2,196,706.68. This represents a 3.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Lindsay E. Gray sold 2,741 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total value of $31,082.94. Following the completion of the transaction, the senior vice president now owns 41,448 shares of the company’s stock, valued at $470,020.32. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Grocery Outlet news, EVP Steven K. Wilson sold 6,477 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total value of $73,449.18. Following the completion of the transaction, the executive vice president now directly owns 173,605 shares in the company, valued at $1,968,680.70. This represents a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

Several research firms have weighed in on GO. Morgan Stanley cut their price target on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, February 26th. Telsey Advisory Group cut their price target on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group cut their price target on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company cut their price target on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft cut Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Grocery Outlet currently has a consensus rating of “Hold” and a consensus target price of $15.25.

Grocery Outlet Price Performance

The firm has a fifty day simple moving average of $15.32 and a 200 day simple moving average of $16.65. The company has a market capitalization of $1.21 billion, a PE ratio of 24.37, a P/E/G ratio of 9.08 and a beta of 0.36. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

Hedge Funds Weigh In On Grocery Outlet

Large investors have recently bought and sold shares of the business. Decker Retirement Planning Inc. bought a new position in Grocery Outlet in the fourth quarter worth approximately $31,000. Aster Capital Management DIFC Ltd purchased a new stake in Grocery Outlet during the fourth quarter valued at approximately $41,000. Quadrant Capital Group LLC lifted its position in Grocery Outlet by 276.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock valued at $43,000 after acquiring an additional 2,036 shares during the last quarter. True Wealth Design LLC purchased a new stake in Grocery Outlet during the third quarter valued at approximately $75,000. Finally, KBC Group NV lifted its position in Grocery Outlet by 62.7% during the fourth quarter. KBC Group NV now owns 4,506 shares of the company’s stock valued at $70,000 after acquiring an additional 1,736 shares during the last quarter. Institutional investors own 99.87% of the company’s stock.

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.