Insider Selling: Grocery Outlet Holding Corp. (NASDAQ:GO) SVP Sells 5,556 Shares of Stock

Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) SVP Steven K. Wilson sold 5,556 shares of the firm’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $35.65, for a total value of $198,071.40. Following the transaction, the senior vice president now owns 155,993 shares in the company, valued at $5,561,150.45. The sale was disclosed in a document filed with the SEC, which is available at this link.

Shares of Grocery Outlet stock opened at $36.92 on Friday. Grocery Outlet Holding Corp. has a 52-week low of $21.01 and a 52-week high of $37.82. The stock’s 50-day simple moving average is $32.95 and its 200 day simple moving average is $29.00. The stock has a market capitalization of $3.56 billion, a P/E ratio of 65.93, a P/E/G ratio of 3.71 and a beta of -0.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.70 and a current ratio of 1.90.

Grocery Outlet (NASDAQ:GO – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Grocery Outlet had a return on equity of 8.65% and a net margin of 1.74%. The business had revenue of $831.40 million for the quarter, compared to analysts’ expectations of $810.39 million. During the same period in the previous year, the business posted $0.23 EPS. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts forecast that Grocery Outlet Holding Corp. will post 0.96 EPS for the current fiscal year.

Several equities analysts have weighed in on GO shares. Bank of America upgraded Grocery Outlet from an “underperform” rating to a “buy” rating and raised their price objective for the company from $23.00 to $37.00 in a research note on Friday, April 29th. They noted that the move was a valuation call. TheStreet upgraded Grocery Outlet from a “d+” rating to a “c-” rating in a research note on Friday, February 25th. Cowen lifted their target price on Grocery Outlet from $30.00 to $32.00 in a research note on Thursday, March 3rd. Telsey Advisory Group reiterated an “outperform” rating on shares of Grocery Outlet in a research note on Thursday, February 24th. Finally, Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.70.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Grocery Outlet by 7.7% during the 1st quarter. BlackRock Inc. now owns 8,852,693 shares of the company’s stock valued at $290,192,000 after buying an additional 631,964 shares in the last quarter. Vanguard Group Inc. grew its holdings in Grocery Outlet by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,490,964 shares of the company’s stock valued at $278,334,000 after buying an additional 96,832 shares in the last quarter. Capital Research Global Investors grew its holdings in Grocery Outlet by 1.1% during the 3rd quarter. Capital Research Global Investors now owns 6,870,625 shares of the company’s stock valued at $148,199,000 after buying an additional 76,221 shares in the last quarter. Capital World Investors grew its holdings in Grocery Outlet by 44.7% during the 4th quarter. Capital World Investors now owns 5,693,839 shares of the company’s stock valued at $161,022,000 after buying an additional 1,760,000 shares in the last quarter. Finally, Parnassus Investments LLC grew its holdings in Grocery Outlet by 12.5% during the 1st quarter. Parnassus Investments LLC now owns 5,448,421 shares of the company’s stock valued at $178,599,000 after buying an additional 605,392 shares in the last quarter. 96.41% of the stock is owned by institutional investors and hedge funds.

About Grocery Outlet (Get Rating)

Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.

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