Grocery Outlet (NASDAQ:GO) Sets New 12-Month Low After Analyst Downgrade

Grocery Outlet Holding Corp. (NASDAQ:GO)’s stock price hit a new 52-week low during trading on Wednesday after UBS Group lowered their price target on the stock from $30.00 to $27.00. UBS Group currently has a neutral rating on the stock. Grocery Outlet traded as low as $22.04 and last traded at $22.04, with a volume of 6183 shares trading hands. The stock had previously closed at $25.90.

Several other equities analysts have also commented on the company. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Wednesday, February 28th. Telsey Advisory Group dropped their price objective on shares of Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.44.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, insider Andrea Renee Bortner sold 4,112 shares of Grocery Outlet stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $26.33, for a total transaction of $108,268.96. Following the transaction, the insider now directly owns 49,308 shares of the company’s stock, valued at $1,298,279.64. The sale was disclosed in a filing with the SEC, which is available at this link. In other Grocery Outlet news, Director Thomas F. Herman sold 1,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $29.00, for a total transaction of $29,000.00. Following the transaction, the director now owns 10,400 shares in the company, valued at $301,600. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Andrea Renee Bortner sold 4,112 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $26.33, for a total value of $108,268.96. Following the completion of the sale, the insider now owns 49,308 shares of the company’s stock, valued at approximately $1,298,279.64. The disclosure for this sale can be found here. Insiders have sold a total of 506,588 shares of company stock worth $13,367,577 in the last three months. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Grocery Outlet

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in Grocery Outlet in the 1st quarter valued at about $25,000. Acadian Asset Management LLC purchased a new position in Grocery Outlet in the third quarter valued at about $113,000. Daiwa Securities Group Inc. acquired a new stake in Grocery Outlet during the 1st quarter valued at approximately $127,000. Headlands Technologies LLC grew its stake in Grocery Outlet by 32,200.0% during the 4th quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock valued at $131,000 after purchasing an additional 4,830 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in Grocery Outlet during the 4th quarter worth approximately $193,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Grocery Outlet Stock Performance

The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 2.47 and a beta of 0.13. The stock has a 50-day simple moving average of $26.94 and a 200-day simple moving average of $27.07.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The firm had revenue of $989.82 million for the quarter, compared to analysts’ expectations of $982.44 million. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. On average, analysts anticipate that Grocery Outlet Holding Corp. will post 0.95 earnings per share for the current year.

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.